Leveraged Finance >>>
CLO s paying the lowest rates in five years are being snapped up by investors, providing the fuel that’s contributing to the biggest surge in corporate buyouts since before the financial crisis. CLICK HERE FOR MORE
The deteriorating finances of the largest leveraged buyout in history is exposing the increasingly diverging interests of its private-equity owners led by KKR & C0. and TPG Capital and the secured lenders who helped finance the $48 billion deal in 2007. Click here to continue reading
Issuance of CLO s in the U.S. this year could reach $75 billion to $100 billion, rivaling the $91.1 billion record-high set in 2007, according to asset managers and arrangers who spoke at Bloomberg Brief’s CLO Webinar. Click Here for More
This podcast was recorded at 2pm EST on Feb 21. Click here to listen
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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