Leveraged Finance >>>
Air Lease expects to issue $500 million to $1 billion of new debt annually to help pay for the almost $1.5 billion a year in aircraft acquisition commitments it has scheduled. It will mainly target unsecured fixed-rate debt. Click here to read more
BlackRock and PNC Financial Services view CLOs as offering some of the best value in the credit markets after securitized debt rallied last year. Click here to continue reading.
Banks are selling more longer-dated structured notes as investors accept greater risks in a bid to boost returns that have been hurt by interest rates close to zero and declining funding costs for lenders. Click here to continue reading.
MGM Resorts International, the casino operator that issued expensive debt during the 2009 fiscal crisis to stave off bankruptcy, may look to refinance about $1.1 billion in bonds due in 2013 and 2014, said MGM CFO and treasurer Dan D’Arrigo. MGM wants to eventually reduce its debt to five times earnings. The ratio was 6.79 times on Dec. 31, according [...]
Wall Street’s largest banks boosted their corporate bond inventories last month in the biggest year-end increase in six years, positioning themselves for mounting demand at the start of 2013. Click here to continue reading.
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Alcatel-Lucent reached a 1.6 billion-euro financing deal, gaining time to overhaul the French phone-equipment maker and try to sell as much as 1.5 billion euros of assets. The senior secured credit facilities underwritten by Credit Suisse and Goldman Sachs will be denominated in U.S. dollars and euros, with maturities of 3 1/2 to six years, the company said [...]
Nine months after the JPMorgan trader known as the London Whale amassed credit-derivatives bets that sparked $6 billion in losses for the bank, rivals from Bank of America to Morgan Stanley are recommending one of his main strategies. Morgan Stanley analysts included among their top 13 trades for 2013 a bet that the cost of credit [...]
Leveraged buyout volume could rise by 25 to 70 percent in 2013, pending resolution of the fiscal cliff. Investment banks are approaching consulting firms such as Alvarez & Marsal, which advises both buyers and sellers on LBOs, for due diligence on companies intended to be sold in the first quarter of next year. To continue reading click here