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International

Europe HY Floating-Rate Volume Reaches YTD High

European floating-rate junk bonds have set a new record and reached their highest volume on record so far this year. Year-to-date high yield floating-rate volume in Europe totals $4.9 billion.

Andrew Wilmont Joins Neuberger Berman

Andrew Wilmont has joined Neuberger Berman Group as lead European high yield portfolio manager. Wilmont was most recently the head of high yield investments at Alcentra.

Numericable Deal Brings $16B in HY

French cable company Numericable Group S.A. could bring nearly $16 billion in bonds and loans to the market for its acquisition of Vivendi’s telecom subsidiary SFR. Numericable agreed to acquire SFR for €13.5 billion ($18.7 billion) and a 20% stake in the enlarged Numericable Group. The deal would value SFR at approximately €15.6 billion ($21.6 billion).

Wind Sells $5.2B in Bonds

The European telecommunications services provider issued $2.8 billion (upsized from $2.6 billion) in 7.375% senior notes due 2021 and €1.75 billion ($2.4 billion) in 7% senior notes due 2021.

Wind Acquisition Selling $2.6B in HY

Wind Acquisition is on the market with a $2.6 billion bond offering that is expected to close today. Price talk on the senior notes due 2021 indicates a yield between 7.5% and 7.75%.

Tullow Taps HY Market for $650M

Tullow Oil sold $650 million in a high yield bond offering Wednesday that was upsized from $500 million. The oil and natural gas company plans to use the proceeds to repay existing debt.

Tullow Oil Offers $500M in Notes

Tullow Oil is selling $500 million in senior notes due 2022. The London-based oil and natural gas company plans to use the proceeds to repay existing reserves-based lending facility debt.

JBS Sells $750M in Notes

Brazilian beef provider JBS has sold $750 million in 7.25% senior notes due 2024. The company plans to use the proceeds to refinance short-maturity debt and for general corporate purposes.

Bombardier Plans $1.8B Drive By

Bombardier is on the market with an offering of $1.8 billion in bonds that is expected to price today. The Montreal-based company will use the proceeds to repay existing debt.

CEMEX Sells $1.55B in Bonds

Mexican cement manufacturer CEMEX priced $1 billion in 6% senior secured notes due 2024 and €400 million ($553 million) in 5.25% senior secured notes due 2021.

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