Leveraged Finance >>>

    New Jersey Considers Adding to High-Yield Investment

    The New Jersey Division of Investments may add as much as $500 million next year to its $3.5 billion in high-yield investments, Tim Walsh, director of the division, said last week in a telephone interview. The division, which oversees $74.3 billion in New Jersey Pension and Cash Management funds, is also considering investments in floating rate debt to benefit [...]

    Intelsat Plans to Cut Debt to Reduce Leverage, CFO Says

    Intelsat, the biggest issuer of junk bonds this year, wants to cut its debt to earnings ratio to as little as five times by using free cash flow, CFO Michael McDonnell said in a telephone interview last week. The ratio is 7.5 times now, according to McDonnell. Click HERE for More

    ETF Selloff Outpacing Junk Signaling More Losses

      Losses on junk-bond ETFs are outpacing the broader U.S. high-yield market by the most in three years, signaling a deepening slump for debt that traded at record-high prices less than a month ago. Click Here for More

    Dealers Absorb Junk Bonds as ETF Demand Drops

    Wall Street banks are expanding holdings of speculative-grade bonds as prices fall from record highs with investors retreating from ETFs. Click Here For More

    Cantor Fitzgerald Hires 4 to Boost CLO Business

    Cantor Fitzgerald is expanding its CLO and structured finance team with four hires in New York and London as issuance soars. Florian Bita joins in New York . . . CLICK HERE TO READ MORE

    ResCap Probe of Ally May Alter Creditor Talks

    An investigative report on Ally Financial  Inc.’s relationship with its bankrupt mortgage arm, Residential Capital LLC, may affect settlement talks between the companies and creditors who blame Ally for $25 billion in potential claims. The court-ordered report, due today, will examine allegations that Ally exerted so much influence over ResCap that the auto lender can be forced to pay [...]

    Loan Trading Hits Two-Year High


    Sears at Risk With Lampert at Helm: Gimme Credit


    FDIC Rule Changes Slow CLO Spread Compression

    The introduction of new FDIC regulations has slowed the tightening of spreads on Triple A rated tranches of U.S. CLOs backed by widely syndicated loans. Once investors digest the changes and recent supply is absorbed, the market may tighten to its lowest since 2008. CLICK HERE FOR MORE

    U.S. Leveraged Loan Underwriter Ranking

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