Tuesday, 17 July 2018

Leela Parker Deo' s stories

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  • 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.

  • FSIC listing to provide liquidity to investors

    Loans | 04 April 2014

    Philadelphia-based alternative investment manager Franklin Square Capital Partners is planning to list its US$4.5bn business development company FS Investment Corporation on the NYSE to provide liquidity to existing investors and let new investors access the fund.

  • The Jones Group logo

    Shopping spree

    Loans | 07 March 2014

    Red-hot institutional demand for US leveraged loans has produced a string of aggressive deals for fashion retail companies, including an aggressive buyout financing backing private equity firm Sycamore Partners’ takeover of The Jones Group clothing company.

  • A woman walks by a BB&T bank branch in Washington

    Regional banks target new geographies

    Loans | 28 February 2014

    US regional banks are increasing market share by expanding into new geographies, as well as upgrading talent when adding new roles, with at least four establishing new corporate banking offices outside existing footprints, in pursuit of growth opportunities.

  • Middle-market firms eye strategic M&A, says RBS Citizens

    Loans | 14 February 2014

    US middle-market businesses, at last seeing top-line growth spurred by a strengthening economy, are increasingly focused on strategic sales and acquisitions in 2014, with an emphasis on protecting current gains and investing in future growth, an RBS Citizens survey of more than 450 business owners and executives found.

  • Accellent logo

    Accellent brings investors new money

    Loans | 14 February 2014

    Three years after exiting the leveraged loan market during a wave of bond-for-loan takeouts that saw droves of issuers pushing out maturities via the high-yield sector, Accellent is back to raise US$1.13bn in first- and second-lien loans to fund its US$390m takeover of Lake Region Medical and to retire those very same bonds.