Sunday, 17 December 2017

Jonathan Schwarzberg' s stories

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  • Global Payments logo

    Global Payments cuts Libor floor as rates forecast to rise

    Loans | 24 March 2016

    Payments processing company Global Payments dropped the Libor floor on a proposed US$1.045bn seven-year term loan backing its US$4.3bn purchase of rival Heartland Payment Systems.

  • Atlantic Power logo

    Investor demand revives refinancing

    Loans | 24 March 2016

    US companies including payment technology firm First Data and electricity generator Atlantic Power are refinancing leveraged loans in a sign that conditions in the beleaguered market could be improving slightly as inflows and increased investor demand create a window of opportunity for firms to extend debt maturities.

  • Solera office

    Investors push back on aggressive documentation

    Loans | 11 March 2016

    US investors are pushing back on some of the more aggressive features in leveraged loan credit agreements that allow private equity-owned companies to increase debt in a volatile economic environment.

  • The HCA headquarters in Nashville, Tennessee

    Jumbo deals test investor appetite

    Loans | 04 March 2016

    New jumbo leveraged loans for healthcare giant HCA and chipmaker ON Semiconductor are expected to price at a premium, as a dent in dema

  • Second-lien debt challenged by volatility

    Loans | 26 February 2016

    Second-lien debt has become difficult to place in both the US and the European leveraged loan markets, as volatility has sent secondary prices crashing and caused several buyout financings to remain on banks’ books after failing to syndicate even senior secured loans.

  • ADT sign

    ADT’s giant LBO to test weak US market

    Top News | 19 February 2016

    The US$4.7bn financing backing security firm ADT’s jumbo US$7bn buyout by Apollo is expected to provide a clear test of appetite in the turbulent US leveraged finance market.

  • Endurance International logo

    Lead banks fund Endurance loan after failed sell-down

    Loans | 12 February 2016

    Banks leading the US$1.25bn in loans and bonds backing Endurance International Group’s US$1.1bn acquisition of online marketing company Constant Contact have been forced to fund the transaction themselves after failing to sell the deal, with bankers saying market volatility and regulatory co

  • SolarWinds logo

    Anxious investors want tighter terms

    Loans | 05 February 2016

    Worried investors are calling for tighter terms and conditions on US leveraged loans as pricing continues to move higher for lower-rated companies while the market tries to digest a multi-billion-dollar logjam of deals from last year in a deteriorating macroeconomic environment.

  • Investors threaten not to fund Staples loan

    Loans | 22 January 2016

    Investors are threatening not to fund a US$2.75bn loan backing office supply retailer Staples’ purchase of rival Office Depot after pricing moved against the deal. This could delay the completion of an acquisition already challenged by antitrust issues.

  • Leveraged prices up in difficult market

    Loans | 15 January 2016

    Leveraged loan pricing is rising in the US as the first big deals of the year including a US$2.525bn buyout loan for retailer Petco Animal Holdings edge out into a turbulent market. Falling oil prices are dragging equities lower and complicating efforts by embattled banks to sell a multibillion dollar overhang of loans that were delayed from last year.