Friday, 21 September 2018

Jonathan Schwarzberg' s stories

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  • ZF to seek investment grade after TRW buy

    Loans | 19 September 2014

    German auto parts maker ZF Friedrichshafen is aiming for investment-grade status in the mid-term for the debt backing its US$13.5bn acquisition of US rival TRW Automotive Holdings.

  • Premiere Global Services logo

    Window of opportunity?

    Loans | 01 April 2016

    The improving tone in the US leveraged loan market is helping banks to relaunch some deals that were stuck in the market at the end of last year, including a US$550m buyout loan for web conferencing provider Premiere Global Services, although investors remain wary of highly leveraged deals and credit

  • Weak supply sparks borrowers to increase refis

    Loans | 07 October 2016

    A lack of new loan issuance and heavy demand for leveraged loans have created opportunities for issuers with strong credit profiles to increase the size of new refinancings by huge sums, extend maturities and lower borrowing costs.

  • ADT sign

    Warm reception for ADT

    Top News | 22 April 2016

    A US$4.7bn bond and loan package backing the buyout of security systems company ADT by private equity firm Apollo met a warm reception last week, underscoring the improving tone in the leveraged finance market of late.

  • Veritas comes full circle with repricing

    Loans | 16 June 2017

    Nearly a year to the day after banks finally sold the loans backing Veritas Software’s buyout at a discount of 85 cents on the dollar, the issuer has lowered the interest rate on the debt with a repricing exercise.

  • Valeant Pharmaceuticals logo

    Valeant rallies support with key refi

    Top News | 10 March 2017

    Valeant Pharmaceuticals has taken advantage of a welcoming US leveraged market to refinance, repay and extend the maturity on its creaking US$30bn debt pile with a mix of new loans and bonds as the troubled Canadian drugmaker’s equity price remains under pressure.

  • US shrugs off financing protests

    Loans | 27 July 2018

    The US leveraged loan market has appeared to shrug off protests at the centre of a national immigration debate that saw illegal immigrants separated from their children, as advocates take aim at banks financing companies that run detention centres.

  • Petsmart store

    US retailers' woes worsen as loan prices slump

    Top News | 25 August 2017

    Pet supplies firm PetSmart is the latest US retailer to see its loan fall below 90% of face value as technology disruption threatens to boost borrowing costs in the struggling US retail sector and raises solvency and liquidity concerns.

  • Screens

    US market correction derails deals

    Top News | 07 November 2014

    The US$520m leveraged loan backing the merger of sample providers Bioplan and Arcade Marketing is the latest US deal to be hit by the market correction that has forced arranging banks to re-evaluate investor appetite and pricing levels.

  • Seeking Alpha

    US Loan House: Morgan Stanley

    All Special Reports | 12 December 2014

    In the year that M&A finally returned, it is perhaps not surprising that an M&A specialist stood out, but to do so under intense regulatory scrutiny was even more impressive. For providing bespoke financings, M&A expertise and consistently generating returns for investors, Morgan Stanley is IFR’s US Loan House of the Year.

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