Leveraged Loans

Norwegian Cruise Lines Seeks $950M in New Loan Debt

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.

Block Communications Launches $225M Loan

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 Moody’s Investors Service.

Regulators Unveil Final Risk Retention Rules

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.

IHS Driving By with $500M Senior Notes Due 2022

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 Enters Talks With Secured Lenders

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 company’s 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).

Investors Pull Money from Loan Funds for 14th Consecutive Week

Loan mutual funds and ETFs saw $945.7 million walk out the door in the week ended Oct. 15, according to Lipper.

How BDCs Can Coexist With Bankers

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.

S&P: 3Q Downgrades Outpace Upgrades

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.

Price Talk Emerges on Essar Steel $350M Loan

Price talk has emerged for a $350 million term loan that is part of a planned $1.03 billion debt offering by Essar Steel Algoma in a recapitalization plan.

Regulators to Finalize Long-Awaited Risk Retention Rule

Regulators will unveil a long-awaited final rule next week that requires lenders to retain some of the risk for loans they securitize, a critical part of the Dodd-Frank Act that the agencies have struggled to implement.


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