Leveraged Finance >>>
Boyd Gaming may try to lower the cost of some of its $4.3 billion in debt in 2014 if the Fed continues its bond-buying programs that are keeping interest rates low, according to CFO Josh Hirsberg. Click HERE for more.
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MDC Partners aims to use free cash flow on acquisitions to boost earnings and cut indebtedness, said CFO David Doft. It plans to take the ratio of net debt to Ebitda under 2.5 times, from 3.1, in two to three years, Doft said. Click HERE for more.
Freescale Semiconductor plans to repay its second-most expensive debt as the cost of doing so drops in December, said Steven Goel, the company’s treasurer. Click HERE for more.
Toll Brothers is postponing a rise to investment grade by borrowing $1.7 billion to make an acquisition and refinance debt due next year. Click HERE for more.
Investors are demonstrating their eagerness to own dollar junk bonds by pushing yields to the least relative to high-grade debt since before the credit crisis. Click HERE for more.
Penn Virginia may sell assets to pay down a revolving line of credit as it seeks to cut indebtedness and gain positive free cash flow by 2016. Click HERE for more.
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