Leveraged Loans

Barclays Trims Forecasts for Bonds, Loans, CLOs

The U.S. collateralized loan obligation market and the loan market that feeds it are both off to a slower-than-expected start, while bond issuance is trailing its historical range of supply average since 2006.

Moody’s Moves Transocean Ratings into Junk Space

Moody’s believes leverage will rise to 5.5x to 6.0x as EBITDA falls to under $2 billion in 2017.

Riverbed Tech Brings $575M to HY Mart

Proceeds from the bond sale will be combined with a $1.53 billion term loan B and a $100 million revolver to fund the company's buyout.

Moody’s: Energy Drives Up Spec-Grade Liquidity Stress

Moody’s stated that its Liquidity Stress Index through mid-February has shot up to 4.3%, continuing a trend in January that saw weakening liquidity in the volatile energy sector.

Expedia’s Ratings Likely Unaffected in Orbitz Deal

Moody’s Investors Service and Standard & Poor’s issued comments Friday stating that the existing ratings for the market-leading online travel agency would not be impacted, even if the entire $1.6 billion transaction were to be funded with debt.

Citgo, Casella Issue Total of $2.1B in HY Market

Citgo Petroleum also allocated its $1 billion term loan B, upsizing the offering to $1.3 billion.

Dollar Tree, Western Refining Wrap HY Bond Sales

The bulk--$3.25 billion--was issued by Dollar Tree to fund its buyout of Family Dollar.

Dollar Tree’s Debt Package Goes Lighter on Loans

The retailer has increased its senior notes offering to $3.25 billion and revised its term loan tranches.

Junk Bond Funds Take In $2.7B New Money

High-yield bonds experienced a second-consecutive banner week of new money pouring into mutual and exchange traded funds, while investors took net withdrawals from loan funds for a 30th consecutive week.

Citgo $1.5 Bonds Road Show Set

Citgo Petroleum is planning a road show Thursday as it prepares to price a $1.5 billion, five-year senior secured notes issue that will help fund capital purchases as well as a dividend for the state-run Venezuelan parent firm Petróleos de Venezuela. Price talk also emerged Tuesday for a $1 billion companion loan proposal.


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Bob Gunderman

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Firm: Windstream Holdings

In the news: Which Debt Will Windstream Retire? CFO Hints at Bonds

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