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Leveraged loans

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  • Thursday, 2 February, 2023
    Mergers & Acquisitions
    Dealmakers tackle rising rates with new pitch: take the debt with you

    ‘Portable capital structures’ avoid need to refinance in tough environment for corporate takeovers

  • Tuesday, 3 January, 2023
    US junk loan investors brace for increase in downgrades and defaults

    Lower demand for risky corporate debt could threaten companies’ ability to refinance

  • Tuesday, 20 December, 2022
    Mergers & Acquisitions
    Sixth Street leads $2.3bn debt package for Maxar Technologies buyout

    Deal to help fund satellite operator’s takeover edged out a competing loan offer from Wall Street banks

  • Saturday, 17 December, 2022
    Twitter Inc
    Musk seeks to sell Twitter shares in search of new funds

    Investors approached to purchase stock at $54.20 buyout price as social media company bleeds cash

  • Friday, 16 December, 2022
    LexPrivate equity
    Advent/Maxar: when LBO loses its leverage Premium content

    Making large equity investments in a single company can be a risky strategy

  • Tuesday, 13 December, 2022
    Elliott Management Corp
    Elliott buys Nielsen debt, backing its own takeover

    Investment by group comes weeks after it spent $1bn buying junk bonds tied to its takeover of Citrix

  • Monday, 5 December, 2022
    News in-depthMarkets volatility
    Financial instability: the hunt for the next market fracture

    Investors are keeping a close eye on areas ranging from US Treasury market illiquidity to Japanese government debt

  • Tuesday, 22 November, 2022
    News in-depth
    US banks use thaw in markets to shift ‘hung loans’ off their books

    Investors nibble on debt of companies less exposed to economic slowdown but avoid riskier groups

  • Monday, 17 October, 2022
    Lex
    CLOs: senior holders have less to fear than sellers Premium content

    2021 was a record year for US collateralised loan obligations

  • Monday, 17 October, 2022
    Nochu says no

    The CLO whale is on a diet

  • Saturday, 24 September, 2022
    Capital markets
    ‘Bloodbath’: Citrix buyout debt sale casts shadow over pending deals

    Deep discounts to offload bonds and loans in software maker’s LBO cost banks $600mn

  • Tuesday, 20 September, 2022
    Citrix Systems Inc
    Banks struggle to offload Citrix debt glut in sign of weak credit market

    Deal reflects difficulties raising funds as the economy turns and interest rates climb

  • Thursday, 15 September, 2022
    News in-depthCitrix Systems Inc
    Investors on edge before $15bn debt sale to fund Citrix buyout

    Low demand for bonds and loans is Wall Street ‘canary’ as inflation risks rock capital markets

  • Thursday, 8 September, 2022
    Lex
    Citrix financing: spread thick, LBO debt makes toast of Wall St profits Premium content

    Leveraged lending risks are spelling themselves out but it remains an attractive business

  • Thursday, 8 September, 2022
    Capital markets
    Banks try to offload $15bn of Citrix buyout debt to ‘gun-shy’ investors

    Wall Street lenders expected to generate significant losses after agreeing to fund deal before economic slowdown

  • Tuesday, 9 August, 2022
    LexAvaya Inc
    Avaya: messy rescue financing shows an earlier reckoning was in order Premium content

    US telecom company’s market worth has fallen to under $100mn, squashed by $3bn of debt

  • Tuesday, 19 July, 2022
    LexPrivate equity
    Buyout debt: The moving business gets back to work Premium content

    Some movers just don’t have the appetite for storage

  • Tuesday, 19 July, 2022
    Pimco
    Pimco buys €1bn of Apollo buyout loans from banks

    Barclays and BofA take losses in shifting debt backing the takeover of Worldline’s terminals business

  • Tuesday, 5 July, 2022
    Lex
    Ebitda: creative accounting did not end when debt was initially sold Premium content

    Many loan term sheets lack definitions for ebitda allowing corporates to avoid breaching covenants

  • Wednesday, 18 May, 2022
    Peloton loan draws strong demand from private and public lenders

    Apollo and Blackstone are among participants in $750mn financing for connected fitness company

  • Monday, 9 May, 2022
    Inside BusinessSujeet Indap
    Should vulture investors be required to show ‘good faith’ with adversaries?

    Judge allows test case on issue in lawsuit against mattress maker Serta Simmons Bedding

  • Monday, 25 April, 2022
    LexPrivate equity
    Private equity: maturing sector is increasingly adding shadow leverage Premium content

    NAV lending is part of proliferating range of products that apply financial engineering to financial engineers

  • Tuesday, 12 April, 2022
    LexPrivate equity
    LBO finance: buyout groups push into lucrative private credit Premium content

    Banks no longer retain a monopoly on financing blockbuster leveraged buyouts

  • Saturday, 26 February, 2022
    On Wall StreetJoe Rennison
    Credit cycle turning as Ukraine war adds to inflation concerns

    Oil price surge and supply chain disruptions could add to pressure on rising prices

  • Monday, 14 February, 2022
    US banking regulators warn of risks in leveraged loan market

    Corporate debt piles swelled during the pandemic with credit extended even to riskiest borrowers

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