Wednesday, 21 March 2018

Leela Parker Deo' s stories

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  • Liquidity, low-growth point to healthy pipeline

    Loans | 19 September 2014

    A strong credit environment, ample liquidity and a borrower focus on M&A-driven growth suggest a healthy outlook for acquisition-related middle market dealflow for the remainder of the year.

  • Scientific Games

    New deals fuel cautious optimism

    Loans | 29 August 2014

    Two acquisition deals expected to contribute nearly US$9bn in new term debt to the US leveraged loan market brought summer to a close and optimism to bankers hoping the pipeline will continue to build in September. Bankers and investors said there are a slew of new deals in the works, though when and at what pace they launch is anyone’s guess.

  • Burger King

    Burger King feeds hungry lenders

    Top News | 29 August 2014

    US loan investors, hungry for more new-money paper, were served a Whopper-sized acquisition loan when fast food giant Burger King and Canadian coffee and doughnut chain

  • Albertsons

    Albertsons ups yield as loans trade off

    Top News | 08 August 2014

    US supermarket and drugstore conglomerate Albertsons is facing higher borrowing costs as loan pricing moves out amid global volatility, much like many other companies tapping the US leveraged loan market. 

  • Making hay while the sun shines

    Loans | 25 July 2014

    The US leveraged loan market is showing no signs of a seasonal slowdown. A flurry of opportunistic leveraged loans from issuers backed by strong demand from institutional investors suggests that the market may have recovered from a bout of weakness earlier this year just as geopolitical risk is increasing.

  • Cov-lite issuer defaults above average for first time

    Loans | 18 July 2014

    For the first time, covenant-lite borrowers are defaulting at a rate above the average for US non-investment-grade companies, according to a Moody’s report. Combined with eroding debt cushions, this could lead to lower recovery rates in the next default cycle.

  • BofAML

    BofA Merrill goes solo on giant bridge

    Top News | 20 June 2014

    US medical device maker Medtronic is raising a US$16.3bn senior unsecured bridge loan to finance its US$42.9bn acquisition of Dublin-based Covidien. The deal has been underwritten by sole initial bookrunner Bank of America Merrill Lynch, making it one of the bank’s biggest loan underwriting commitments ever.

  • Business partnership

    Leveraged lending guidelines drive partnerships

    Loans | 13 June 2014

    Regulatory guidelines aimed at stopping banks from making highly leveraged loans to risky borrowers and fierce competition from alternative capital providers are driving more financing partnerships which are reshaping US middle market lending.

  • CBO tax estimate raises new hurdle for BDC bill

    Loans | 16 May 2014

    Proposed legislation that will allow business development companies (BDC) to take on more leverage and lend more to mid-size businesses faces a new hurdle after a US Congress-mandated report said the change would be unfavourable to taxpayers.

  • Balance

    Finding a balance

    Loans | 09 May 2014

    The significant supply and demand imbalance that has largely defined the US leveraged loan market for the last two years, with unrelenting investors chasing too few deals and driving yields lower, may finally be finding an equilibrium.