Proceeds will be used to refinance all of the paperboard companys existing $250.0 million aggregate principal amount of 7.875% senior notes due 2018.
Price talk has emerged for $593 million loan package from Pabst Blue Ribbons parent firm to fund the companys buyout by a group of investors including Great American Brewing Company and TSG Consumer Partners.
Norwegian Cruise Lines is promising a new $500 million term loan B and a $450 million add-on to an existing term loan A to help finance its $3.03 billion acquisition of Prestige Cruises International, the parent firm of Oceania Cruises Inc. and Seven Seas Cruises S. DE R.L.
Media holding company Block Communications is proposing a $225 million first-lien term loan that will be used toward financing its pending acquisition of MetroCast cable television services, according to Moodys Investors Service.
The Federal Deposit Insurance Corp. approved a final rule requiring lenders to retain at least a 5% stake in loans they securitize unless they meet the definition of "qualified residential mortgages; there's no such carve-out for corporate loans.
Proceeds will be used to repay all of an existing $250 million unsecured term loan and a portion of the $850 million of outstanding borrowings under its new $1.3 billion senior unsecured revolving facility.
Caesars Entertainment announced today that it has entered negotiations with its first-lien bank loan holders for new terms to reduce some of the $20 billion debt throughout the companys subsidiary operations. This action follows talks that Caesars began a month ago with bondholders of the unsecured debt holdings of its Caesars Entertainment Operating Co. (CEOC).
Loan mutual funds and ETFs saw $945.7 million walk out the door in the week ended Oct. 15, according to Lipper.
Serving small-cap and middle-market firms, and providing financing that complements rather than displaces corporate bank structures is how business develop corporations can succeed in meeting the demand for borrowing that large banks don't fulfill, says Raj Vig, managing partner at TCP Capital Corp.
In Standard & Poor's quarterly speculative-grade ratings report, the ratings agency noted that downgrades outnumber upgrades 57 to 46 to continue a year-long trend.