Saturday, 21 July 2018

Jonathan Schwarzberg' s stories

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  • 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.

  • Attendees pass by the GGP booth during the International Council of Shopping Centers meet

    GGP brings huge pro rata term loan

    Top News | 27 April 2018

    A US$7bn crossover loan package backing the US$15.3bn cash and stock acquisition of GGP, the second-largest mall owner in the US, by global commercial real estate giant Brookfield Property Partners, includes the biggest Term Loan A financing of the year so far.

  • High demand helps companies to cut pricing

    Loans | 26 January 2018

    The US leveraged loan market has opened with a bang, allowing junk-rated companies such as food packaging company Crown Holdings to reduce pricing further amid strong demand for floating-rate assets.

  • PetVet nets debt to back buyout: LPC

    Ticker | 28 December 2017

    Jefferies and KKR Capital Markets have agreed to provide financing commitments backing private equity firm KKR’s buyout of veterinary hospital PetVet, according to a statement.

  • Lower-rated firms at risk from tax changes

    Loans | 15 December 2017

    Proposed changes to the corporate tax system could hurt at least a quarter of highly-leveraged companies and cause more defaults in an economic downturn, ratings agency Moody’s said.

  • Corporate Issuer: Becton Dickinson

    Corporate Issuer: Becton Dickinson

    All Special Reports | 15 December 2017

    Becton Dickinson caught most market participants by surprise as it announced its multi-billion acquisition of CR Bard. For carefully managing investor expectations in the face of a downgrade to junk while successfully tapping the loan, bond and equity markets, Becton Dickinson is IFR’s Corporate Issuer of the Year.

  • North America Leveraged Loan: DigiCert's US$1.85bn financing

    All Special Reports | 15 December 2017

    Robust US leveraged loan market conditions in 2017 helped companies to slash borrowing costs in opportunistic deals but lesser-known borrowers and story credits were still subject to scrutiny and held to high standards despite investors’ strong appetite and ability to lend.

  • An olive branch is seen during harvest

    Regulators to soften US loan rules

    Top News | 08 December 2017

    US regulators said they are open to revising restrictions on leveraged lending, offering an olive branch to a Republican-controlled Congress keen to roll back banking regulations.