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Tuesday, 25 September 2018

Jonathan Schwarzberg' s stories

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  • Companies boost financial firepower with add-on loans

    Loans | 12 May 2017

    Four US companies, including consumer goods company Spectrum Brands, launched add-on loans last week to boost the size of existing facilities, as lenders compete to offer additional debt to familiar names amid a lack of supply in 2017 so far.

  • Second-lien loans become first choice

    Loans | 05 May 2017

    Strong investor demand is allowing US private equity firms to use increasingly large second-lien loans to maximize the amount of debt and leverage that they can raise to finance buyouts such as financial software provider Misys.

  • Lenders welcome M&A surge

    Loans | 28 April 2017

    US companies have lined up at least US$42.5bn of loans to back a flurry of US mergers in sectors ranging from healthcare to food and software in the second quarter, as companies try to grow by acquisition.

  • Highly leveraged US loans still in demand

    Loans | 13 April 2017

    Traditional banks and alternative lenders are still underwriting highly leveraged US loans, despite regulatory scrutiny, as red-hot investor demand shows no sign of abating and new buyout loans remain scarce.

  • Qlik Technologies slashes loan cost

    Loans | 07 April 2017

    Data analytics firm Qlik Technologies is in the market with a US$1.07bn loan refinancing that will halve the interest margin on a highly leveraged loan that it raised from direct lenders less than a year ago, to finance its US$3bn sale to private equity firm Thoma Bravo.

  • Price cuts extend to lowest-rated B3 loans   

    Loans | 24 March 2017

    Low-rated US buyout loans are pricing with razor-thin margins not seen since the financial crisis of 2008 as a dearth of new deals allows companies to dictate terms in a borrower’s market.

  • Hilton

    US lev loan refi wave tops US$200bn

    Top News | 17 March 2017

    More than US$200bn of US leveraged loans have been refinanced or repriced so far this year and, with two weeks to go before the end of the quarter, volume is approaching the US$245m of redone loans written in the second quarter of 2013, the last peak of activity.

  • 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.

  • Cyxtera adds protection to loans against looming tax changes

    Loans | 10 March 2017

    Data centre operator Cyxtera is the first leveraged loan issuer to try to protect itself from moves by the US government to cut tax deductibility on interest payments that would make buyout financing more expensive.

  • Coal companies return to leveraged market

    Loans | 03 March 2017

    Rising coal prices and a more favourable outlook for the industry under the Trump administration are allowing US coal companies to sign new leveraged loans after being shut out of the market since mid-2015, despite a declining long-term outlook for the industry.