Pharmaceutical giant Endo International has obtained a financing commitment from Citigroup to fund the $2.6 billion acquisition of Auxilium Pharmaceuticals in a cash-and-stock transaction announced Thursday.
Middle market credit deals are going to rely more and more on finding the right structure to be successful, and firms that prove nimble at putting together a variety of structures will find success with the widest swath of clients, according to Goldman Sachs veteran Thomas Goila.
Fitch Ratings issued a report Monday predicting the investment performance on leveraged loans and CLO portfolios will remain on stable footing heading into 2015.
In a Q&A with Leveraged Finance News, former Blackrock multisector fixed income head Brian Weinstein discusses his move into alternative investments at Blue Elephant Capital Management, and the huge growth opportunities he sees in bringing institutional investors into peer-to-peer lending.
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.
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.
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.
Yields on loans from single-B issuers have reached a 12-month high, according to Thomson Reuters LPC, but there are signs the momentum may swing back to corporate issuers as the fourth quarter nears.
In a reversal from first-quarter trends, Babson Capital reports that spreads tightened slightly in both the U.S. and Europe for AAA paper in CLO 2.0 issues while lower-rated mezzanine tranches saw widening spreads of 20 bps.
TPG Institutional Credit Partners and PineBridge Investments are in the market with two collateralized loan obligations totaling nearly $1 billion.