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Monday, 23 October 2017

Isabell Witt' s stories

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  • Italian result dents sentiment

    Loans | 01 March 2013

    European leveraged loans were broadly flat to slightly lower last week as the indecisive Italian elections dented sentiment in the wider markets, while loan investors are finding it difficult to find assets to buy. Europe’s top 40 leveraged loans were quoted 7bp lower on Thursday at 98.53% of face value from 98.6% a week earlier.  

  • Cairn Capital

    Relative value

    Loans | 22 February 2013

    Relative value on European leveraged loans is becoming increasingly attractive after a slump in US yields since the start of the year. The first European CLO for Cairn Capital shows US investors allocating more money to European fund managers and large recent transatlantic leveraged loans show higher yields available on non-dollar paper.   

  • Investors win repricing battle

    Loans | 15 February 2013

    Investors have put the brakes on European leveraged loan repricings before they had a chance to set an aggressive precedent, by forcing Iceland Foods and Global Blue to increase proposed margins.

  • An Iceland Foods store

    Europe laments repricing

    Loans | 08 February 2013

    Leveraged loan investors are bemoaning Iceland Foods’ repricing of its £885m management buyout loan, amid concerns that if the deal goes through, it could set a precedent for others to follow and reprice the European market as a whole.

  • Branson

    Virgin trade lifts M&A hopes

    Top News | 08 February 2013

    Liberty Global’s US$23bn acquisition of British cable group Virgin Media has buoyed hopes in the European leveraged finance market that jumbo acquisitions coul

  • Seat Pagine Gialle

    SEAT set for shock second restructuring

    Top News | 01 February 2013

    Italian directories firm SEAT Pagine Gialle’s surprise decision to suspend a bond coupon is now expected to trigger a second round of restructuring. Last week’s announcement, which blamed the weak Italian economy for a continuing decline in print advertising sales, came just five months after the completion of the company’

  • Logo of Czech energy company EPH

    Eastern Europe: EPH boosts hopes for M&A revival

    Loans | 25 January 2013

    Czech energy company EPH’s raising of a €1.5bn loan to buy Slovak gas utility Slovensky Plynarensky Priemysel is an encouraging sign for international lenders that M&A deals in Central and Eastern Europe could start to meet strong underwriting appetite after weak volumes in 2012.

  • Dupont plant

    DuPont revives cov-lites in euros

    Top News | 18 January 2013

    DuPont Performance Coatings’ US$3.2bn LBO loan took advantage of investors’ scramble for paper last week, achieving aggressive terms on both sides of the Atlantic after cutting margins twice.

  • Logo of Italian credit data provider Cerved Group

    Risky business

    Loans | 18 January 2013

    Banks under pressure to win business are being forced to hold riskier, covenant-lite loans for lower-rated European companies, including borrowers from peripheral countries, to win lucrative high-yield bond mandates as competition heats up. 

  • Prices rise further on strong technicals

    Loans | 18 January 2013

    European leveraged loans rose further last week despite signs of caution in the wider markets as investors took a step back from the recent rally and questioned the health of the global economy. Europe’s Top 40 leveraged loans rose another 15bp to 98.53% of face value on Thursday from 98.38% at the end of the previous week, still at the highest level seen since July 2007.

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