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Tuesday, 16 October 2018

Yoruk Bahceli' s stories

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  • Deal document

    Lev fin bankers shun underwrites

    Top News | 11 May 2018

    European leveraged finance bankers are turning down opportunities to underwrite buyout deals as they are increasingly concerned by the aggressive lending documents demanded by private equity firms.

  • oilrig.jpg

    European high-yield activity to pick up next week

    Ticker | 10 May 2018

    European high-yield investors may well be looking at a quiet May, although activity is expected to pick up somewhat after a roadshow announcement this week.

  • Logo of Danish telecom operator TDC

    TDC downgraded on Macquarie-led buyout

    Ticker | 09 May 2018

    Ratings agencies have downgraded TDC into high-yield territory following the completion of its acquisition by a Macquarie-led consortium last week, making it this year’s first European fallen angel.

  • oilrig.jpg

    Ithaca Energy to refinance 2019 maturity wall

    Ticker | 08 May 2018

    Ithaca Energy is back in the high-yield market ahead of approaching debt maturities due next year.

  • Spanish construction

    Aldesa echoes construction noise

    Ticker | 04 May 2018

    Aldesa is offering the highest coupon on a euro high-yield trade this year, accounting for risks in the construction sector and a shaky performance in the high-yield market.

  • ICBPI

    Market test awaits from revamped Nexi

    Ticker | 02 May 2018

    Nexi’s reorganisation which removes capital requirement targets from the company has failed to win over all investors, but the bond’s inclusion of an aggressive covenant already rejected by high yield accounts last week could prove a sterner test.

  • A poker room at a casino in Las Vegas, Nevada

    Olympic Entertainment brings new gaming name

    Ticker | 01 May 2018

    Olympic Entertainment is bringing another gaming name to European high-yield with a debut offering backing its takeover.

  • ICBPI

    Nexi comes to high-yield for refinancing

    Ticker | 01 May 2018

    Italian payments company Nexi will hit the road this week to market a €2.2bn senior secured dual-tranche deal to refinance expensive debt as it spins off its regulated banking activities into a different entity.

  • High-yield passes LBO test - but timing is essential

    Bonds | 27 April 2018

    Successful deals from Flora Food, Refresco and Fedrigoni in recent days have shown that the European high-yield market is open to LBO deals - but issuers are far from having the upper hand and remain vulnerable to investor push-back.

  • A man signs a document

    Investors accept Flora but push back on Fedrigoni

    Ticker | 26 April 2018

    Investors have pushed back on documentation for Italian paper and packaging firm Fedrigoni’s €455m LBO bond, in contrast to their stance on Flora’s recent deal which contained even more aggressive covenants.