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    2013 Sell-Side Analyst Junk Bond, Leveraged Loan Predicitions

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    Alcatel Wins Loans From Goldman, Credit Suisse

    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 [...]

    Whale’s Trade in Comeback as Junk Fervor Fades

    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 [...]

    LBO Volume May Rise by Up to 70% in 2013

    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

    Junk Bonds Peek Over Fiscal Cliff as Sales Fall

    High-yield companies sold at least $2.6 billion of debt this week, down 81 percent from the prior period and below the 2012 average of $6.9 billion, according to data compiled by Bloomberg. Bombardier postponed a $1 billion offering as the cost to borrow rose to the highest since early September. To continue reading full article click here  

    Vanguard Says Doesn’t Have to Go to Debt Market

    Vanguard Health Systems has no definitive plan or need to access the debt markets, said Phillip Roe, the company’s executive vice president, CFO and treasurer, responding to speculation by analysts that it may need to issue to cover a spending gap. The company has significant liquidity to fund its operating needs and committed capital expenditure needs, Roe said in a telephone interview [...]

    High Yield: Where’s the Value? – FREE PODCAST

    Leveraged Finance Podcast series presents: High Yield: Where’s the Value? – FREE PODCAST. Where is the relative value for investors and what are the biggest risks for the next 12 months? Featuring: Margie Patel, Senior Portfolio Manager, Wells Capital Management Gershon Distenfeld, Senior Vice President, AllianceBernstein Matthew Philo, Senior Managing Director, MacKay Shields Marty Fridson, [...]

    Loans in $233 Billion U.S. Surge Top 2011 Levels

    Loans obtained in the U.S. by speculative-grade borrowers have risen to $233 billion, surpassing 2011 levels as investor demand for debt with the highest claims on a company’s assets grew amid fiscal uncertainty and a struggling global economy. Borrowers last month got more than $47 billion of the debt that was sold to non-bank lenders, such as CLO s [...]

    U.S. Leveraged Loan Volume Rises With Prices

    New Lenders Allow Looser Terms in Mid Market

    Large institutional investors are participating more in middle market loans because of a lack of new issuance elsewhere, said Kevin Burke, head of loan sales and trading for GE Capital Markets. Tighter pricing and looser structures are following, Burke said. Invesco and Eaton Vance participated in a $352 million loan for Centerplate that was syndicated Oct. 16, [...]

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