Saturday, 20 October 2018

Jonathan Schwarzberg' s stories

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  • Repricings resurface despite new issuance

    Loans | 10 August 2018

    At least three US companies including warehouse retail store BJ’s Wholesale Club are cutting borrowing costs on existing term loans after a surge in new money issuance put a brake on opportunistic repricing and refinancing transactions in July.

  • Current loans hold key to post-Labor Day appetite

    Loans | 10 August 2018

    Bankers and investors are looking to payment processor Verifone’s buyout financing and a deal backing healthcare data analytics provider Verscend’s acquisition of payment accuracy provider Cotiviti to set the tone for leveraged loans when bankers return to work after the Labor Day holiday.

  • Higher oil prices fuel M&A boom in energy

    Loans | 03 August 2018

    The US$1.2bn purchase by private equity firm KKR and energy infrastructure company Williams of natural gas and oil processing and transporting company Discovery Midstream has added fuel to thriving oil and gas lending, only two years after low oil prices made the sector a no-go area.

  • 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.

  • Rising pricing creates challenges for big buyouts

    Loans | 06 July 2018

    Rising pricing is creating a more challenging environment for large US buyout loans that were underwritten earlier this year, including a US$13.5bn loan and bond financing for Thomson Reuters’ Finance and Risk unit and a US$8.05bn financing for Envision Healthcare.

  • PetSmart files suit against Citi over Chewy

    Loans | 29 June 2018

    Private equity-backed retailer PetSmart’s US$4.2bn Term Loan B dipped to 82.5-83 on Wednesday, a day after the company filed a lawsuit against Citigroup, the administrative agent of its term loan and asset-based revolving credit facility.

  • Second-lien, but first choice

    Loans | 22 June 2018

    US companies including cell phone insurance provider Asurion and production studio MGM are raising second-lien loans rather than cheaper high-yield bonds to take advantage of the flexibility that yield-hungry investors continue to offer.

  • 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.