Capital Automotive LLC plans to raise $400 million in debt to help finance its proposed acquisition by Brookfield Property Partners, according to ratings agency reports.
Las Vegas Sands announced today it has amended and extended the credit facility for its Singapore-based casino, Marina Bay Sands. Terms of the deal were not disclosed.
Business development corporations are testing the waters with "at the market" programs to sell relatively small numbers of shares to fund loans to middle-market businesses. But the ease and efficiency of raising capital through ATMs - vs. traditional offerings on Wall Street - could lead to riskier lending decisions by BDCs, warns Fitch Ratings.
High yield bond funds saw another week of positive flows, continuing the rebound after the month-long selloff over July and August.
Energy Services Holdings has reduced its first-lien loan offering to $125 million from $150 million after reducing the level of its planned dividend, according to Standard & Poors.
U.S. investment bank revenue has reached its highest year-to-date level since 2007. M&A revenue leads among revenue streams. U.S. core investment bank revenue now totals $17.5 billion year-to-date.
Struggling RadioShack is reportedly in talks with a hedge fund on a financial rescue package that would include refinancing existing debt. The plan could help jump-start renewed negotiations with creditors and allow it avoid bankruptcy.
Global merger and acquisition volumes have reached a year-to-date high not seen since the heady buyout boom days of 2007. The percentage of global M&A activity financed by high yield bonds and leveraged loans is on the rise.
Industrial cleaning chemicals company Zep Inc. announced Tuesday it has refinanced $325 million in loans that provide more flexible covenants as well as an option to upsize the loan and issue letters of credit and swingline loans.
A bankers meeting is scheduled for Sept. 3 for the launch of a $2.085 billion loan facility for Scientific Games Corp., which is using the proceeds to partially fund its announced $5.1 billion acquisition of Bally Technologies.