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    Investors Took More Risk For Less Reward in Q1

    After last year’s record-setting pace of U.S. bond and loan issuance, activity has slowed in the biggest leveraged finance market, partly because of diminished need to refinance. In Europe, funding costs hit an all-time low, though borrowing was also less than in 2013. In both markets, funding costs remained near all-time lows while riskier structures – like second lien – and looser [...]

    Deluxe to Use Revolver, Cash for Bond Maturity

    Deluxe Corp. plans to repay $253.5 million of bonds due Oct. 1 with cash and its revolving credit line, CFO Terry Peterson said. Click HERE for more.

    EXCLUSIVE: Freescale Evaluates Term Loan Repricing

    Freescale Semiconductor will evaluate whether to reprice a term loan when the cost of doing so drops in September and may refinance bonds next year as it seeks to further cut interest costs, said Treasurer Steve Goel. Click HERE for more.

    Kratos Mulls Bonds, Loan for June Refinancing

    Kratos Defense & Security Solutions may seek to refinance bonds in June when an early payment penalty declines, according to Chief Executive Officer Eric DeMarco. Click HERE for more.

    Hill Eyes Bond, Loan to Refinance Second Lien

    Hill International may refinance a 7.5 percent second-lien loan with a term loan or its inaugural bond offering this year, said company President David Richter. Click HERE for more details.

    Penn Virginia Offers Chance for 50% Gain

    Penn Virginia Corp., which surged this week after George Soros disclosed he was the company’s largest shareholder, stands to reap even more for investors by putting itself up for sale. Click here to view the entire article.

    Second-Lien Loan Boom Belies Risk

    Click HERE to launch interactive feature.

    Institutional Second-Lien Deal Volume, Count Highest Since 2007

    Companies are borrowing through more junior-ranking loans than ever before, helping to fund buyouts and payouts to private-equity firms. Click HERE for more.

    A.M. Castle to Refinance 12.75% Bonds: CFO

    A.M. Castle aims to save more than $20 million of annual interest costs by refinancing 12.75 percent bonds in the second half of this year, said Chief Financial Officer Scott Stephens. Click HERE for more.

    Rite-Aid Cash Flow, Low Multiples May Draw Bids

    A turnaround at Rite Aid Corp. that prompted Goldman Sachs Group Inc. to almost double its stock estimate is also turning the drugstore chain into a takeover candidate. Rite Aid surged 7.5 percent on March 12 after Goldman Sachs analyst Robert Jones said the stock has further to climb, even after more than tripling last year amid a [...]

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