Leveraged Finance

Investors Push Back on Terms as Volatility, Risk Aversion Rises

October 27, 2014

The European leveraged loan market is choppier than three months ago and greater risk aversion means borrowers are offering concessions on some syndications. “Investors want to invest and there is a lack of paper,” said Paul Gibbon, managing director, leveraged capital markets, at UBS. “At the same time investors have recognized the market has changed and they are pushing back

Loan Fund Managers Find Value, Liquidity in Selloff

October 21, 2014

BY KELLY BLESSING After last week’s rout, which sent leveraged loan prices to their lowest since December 2012,investors say there are reasons to buy and sufficient liquidity. “Fundamentals really haven’t changed, this should be a buying opportunity,” said Kevin Egan, senior portfolio manager and co-head of credit research at Invesco, which manages more than

Vista Turns to Jefferies for Potential TransFirst LBO

October 14, 2014

— Christine Idzelis and Matthew Monks Jefferies and two other lenders not overseen by U.S. banking supervisors are offering to finance a potential $1.5 billion buyout of TransFirst that would leave the payments processor with a debt load exceeding regulators’ guidelines, according to three people with knowledge of the deal.

Altegrity Sees Loans Plunge as S&P Warns of ‘Imminent’ Default

October 7, 2014

Altegrity, the security firm, has about six months until it runs out of money as the loss of background-check contracts negate most of a July deal with lenders to extend maturities for five years.“You’re on your way to a selective default; it’s imminent,” said Rod Olivero, an analyst at S&P. “There does need tobe some sort

Leveraged Capital Q2 – July 2014

July 21, 2014

Introduction Speculative-grade issuers took advantage of excess liquidity and a continued chase for yield to place record-setting volumes of debt in the first half of 2014.   U.S. and European junk companies paid all-time low rates, while also achieving looser covenants and longer tenors. The Fed and regulators took note, flagging lax lending standards and complacency in

B&G May Borrow for Acquisitions, CEO Says

March 10, 2014

B&G Foods may take advantage of low funding rates for debt financed takeovers this year, said CEO David Wenner. Read More…

Legacy of TXU, the Largest Buyout in History, Will Likely Be Creditor Melee

March 3, 2014

View the interactive chart – Legacy of TXU, the Largest Buyout in History, Will Likely Be Creditor Melee

Royal Caribbean to Repay $526M in Ship Debt

March 3, 2014

Royal Caribbean Cruises plans to repay about $526 million of ship-related debt due this year, according to CFO Jason Liberty. Read More…

United Continental Mulls Debt for $2Bn Spending

February 22, 2014

United Continental Holdings plans to fund the delivery of 36 aircraft from Boeing this year with a combination of enhanced equipment trust certificates and borrowings from banks, said Treasurer Gerald Laderman. Read More

European Corporates Boost Sales of Cov-Light Loans in U.S.

February 18, 2014

European corporates have launched 4.4 billion euros equivalent of covenant-light loans in the U.S. market year to date, adding to 1.1 billion euros signed since Jan. 1. Read More