Monday, 18 June 2018

Jonathan Schwarzberg' s stories

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  • KKR logo

    Envision LBO adds to deal bonanza

    Top News | 15 June 2018

    Private equity firm KKR’s US$9.9bn leveraged buyout of Envision Healthcare has helped boost private equity deal volumes to levels not seen since before the financial crisis.

  • Tensions rise as PE pushes limits

    Loans | 15 June 2018

    Investors are taking the fight against an assault on leveraged loan documentation to the courts as more private equity-backed companies, such as troubled retailer PetSmart, seek flexibility that could lead to raising new debt.

  • More companies shelve refis as markets turn choppy

    Loans | 08 June 2018

    At least two more US companies have postponed opportunistic leveraged loan refinancings after failing to attract investors at the proposed terms on heightened worries about global volatility.

  • Leverage nears pre-crisis heights

    Loans | 01 June 2018

    Leverage levels for buyouts are close to pre-credit crisis levels as banks are more willing to underwrite highly leveraged deals following the Office of the US Comptroller of the Currency’s softened stance towards lending risk.

  • Repricings lead to market fatigue as deals pulled

    Loans | 01 June 2018

    Repricing fatigue has settled over the US leveraged loan market after more than 275 companies have turned to the segment over the past three months - many to cut borrowing costs - leading some of the most aggressively priced deals to trade off or even be pulled.

  • Uber Technologies logo

    Uber looks to cut borrowing costs

    Top News | 01 June 2018

    Internet-based taxi service Uber Technologies is asking lenders to lower pricing on its US$1.13bn term loan that was agreed in July 2016 and matures in 2023.

  • OCC head says LLG needs no revisions

    Loans | 25 May 2018

    Comptroller of the Currency Joseph Otting said on Thursday that he does not expect to make changes to the federal leveraged lending guidance as he does not see revisions necessary, since the guidelines currently allow for flexibility for banks.

  • US dollar bills

    Regulated banks wary of Vertafore

    Top News | 25 May 2018

    US insurance software provider Vertafore has chosen banks that are not subject to leveraged lending guidance to lead an aggressive US$2.4bn dividend recapitalisation, showing that regulated lenders are still wary of highly leveraged deals.

  • Rising stars slash debt costs in robust US economy

    Loans | 18 May 2018

    Oil producer Continental Resources is one of several US companies that have been able to cut borrowing costs after their credit ratings were upgraded to investment-grade on the back of rising commodity prices and a robust economy.

  • Investors tighten loan documents with J Crew blocker

    Loans | 04 May 2018

    Lenders are tightening US leveraged loan documents to stop issuers from removing security by transferring intellectual property into new subsidiaries and raising additional debt, an issue which surfaced last year when retailer J Crew did precisely that.

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