Edition:
India

Aaron Weinman

AVI-SPL's US$370m loan finalized with steepest discount in four years

02 Jul 2020

NEW YORK, July 2 (LPC) - AVI-SPL needed two tries and the steepest discount in four years to syndicate a US$370m leveraged loan to an investor base concerned about the health of an audiovisual company reliant on businesses shut out of buildings amid the coronavirus.

U.S. loan issuance plummets in second quarter as market takes stock of new normal

01 Jul 2020

NEW YORK (LPC) - Issuance across the U.S. syndicated loan market plummeted in the second quarter as the asset class navigated a slow recovery from the novel coronavirus that left borrowers scrambling for cash to keep their businesses alive while economies around the world gradually reopen.

UPDATE 1-Airlines peddle pricey deals to stay in business

25 Jun 2020

NEW YORK, June 24 (LPC) - Airlines in the United States are seeking funds to buttress operations after travel plummeted amid the coronavirus pandemic, offering investors favorable yields and valuable protections as they seek to shore up operations.

Airlines peddle pricey deals to stay in business

24 Jun 2020

NEW YORK, June 24 (LPC) - Airlines in the United States are seeking funds to buttress operations after travel plummeted amid the coronavirus pandemic, offering investors favorable yields and valuable protections as they seek to shore up operations.

Development banks double down on Latin America as bank loans slump

18 Jun 2020

NEW YORK, June 18 (LPC) - Global development banks are mobilizing billions of US dollars in capital to fund initiatives in Latin America as commercial bank lending slumps throughout the region, which is grappling with a spike in coronavirus cases and a severe dip in projected economic performance.

Pathway finds ally in Ares for US$1.28bn debt deal

15 Jun 2020

NEW YORK, June 15 (LPC) - Veterinary services provider Pathway Vet Alliance has turned to the private debt market to place a US$255m second-lien loan that would have made a larger debt package a harder sell among investors.

US borrowers shun leveraged loan market as demand wanes

04 Jun 2020

NEW YORK, June 4 (LPC) - Borrowers that have historically turned to the US leveraged loan market are instead looking to high-yield bonds to refinance existing loans as bank debt becomes more costly and hard to access while demand for the asset class drops.

Banks test sluggish US loan market with a slew of M&A transactions

20 May 2020

NEW YORK, May 20 (LPC) - Banks in the US have launched US$3.4bn in leveraged loans backing mergers and acquisitions this month, reopening a market that was mainly available for companies seeking emergency funding related to the coronavirus pandemic.

CORRECTED-Carlyle, GIC’s cold feet on Amex travel buy casts doubt on US$1.1bn loan

14 May 2020

NEW YORK, May 12 (LPC) - A US$1.1bn leveraged loan partially supporting the Carlyle Group and Singaporean sovereign wealth fund GIC Pte Ltd’s purchase of a 20% stake in American Express Global Business Travel (Amex GBT) has been called into question as the investors look to walk away from the transaction.

US Foods offloads US$300m acquisition-linked loan to Guggenheim – sources

28 Apr 2020

NEW YORK, April 28 (LPC) - Food distribution company US Foods has offloaded a US$300m term loan to Guggenheim Investments after the asset manager offered to pick up the entire portion of debt that had launched into the syndicated market just days earlier, according to two sources familiar with the transaction.

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