Edition:
India

Aaron Weinman

Investors weigh swath of loan deals ahead of summer lull

11 Jul 2019

NEW YORK, July 10 (LPC) - US-based credit investors anticipate a busy July across the leveraged loan market as corporate borrowers saturate the asset class with new loan issuance before the inevitable August summer lull when deal-making traditionally slows down.

CVC, Ares target loans with new billion dollar distressed funds

02 Jul 2019

NEW YORK, July 2 (LPC) - Global asset managers CVC Capital Partners and Ares Management each raised more than a billion dollars in June for respective distressed investment funds, an indication that portfolio managers are readying capital to pick up shaky leveraged loans cheaply in the secondary market when the economic cycle turns.

MOVES- SMBC hires loan banker from Mizuho

01 Jul 2019

NEW YORK, July 1 - Japanese lender SMBC has hired Sara Pirzada, three sources familiar with the move said. Pirzada, currently a managing director at Mizuho Securities in New York, is slated to start with SMBC's loan syndication team in the coming months, the sources said.

MOVES- Blackstone GSO hires ex-Goldman banker for distressed business

26 Jun 2019

NEW YORK, June 26 (LPC) - Blackstone’s credit platform GSO Capital Partners has appointed Dan Oneglia as senior managing director and co-head of its distressed investing business, the firm said in a press release on Wednesday.

Riskier borrowers face heightened scrutiny as uncertainty mounts

20 Jun 2019

NEW YORK, June 19 (LPC) - Speculative grade companies looking to the leveraged loan market to fund their operations are bracing for heightened scrutiny from investors demanding greater compensation for deals being executed under a cloud of macroeconomic uncertainty.

UPDATE 1-Smart & Final changes on US$340m loan could mean losses for banks

19 Jun 2019

NEW YORK, June 18 (LPC) - A US$340m term loan backing Apollo Global Management’s purchase of supermarket chain Smart & Final priced on Tuesday morning but not before lead banks added a series of changes to the loan after failing to attract enough investors under the original terms, sources said.

Smart & Final changes on US$340m loan could mean losses for banks

18 Jun 2019

NEW YORK, June 18 (LPC) - A US$340m term loan backing Apollo Global Management’s purchase of supermarket chain Smart & Final priced on Tuesday morning but not before lead banks added a series of changes to the loan after failing to attract enough investors under the original terms, sources said.

Mexico’s Pemex rounds up banks ahead of deadline for US$8bn loan

12 Jun 2019

NEW YORK, June 12 (LPC) - Mexican oil producer Petróleos Mexicanos (Pemex) is circling commitments from at least 15 banks to fill an US$8bn loan, but the state-owned company is tackling a recent downgrade that has lenders questioning how much exposure they want in the two-part credit facility.

MoneyGram’s loan faces performance, money laundering concerns

07 Jun 2019

NEW YORK, June 7 (LPC) - Money transfer company MoneyGram International Inc is struggling to finalize a US$663m loan as its financial performance wilts under fierce competition following a US$125m US government fine last November for poor money-laundering controls, sources said.

Leveraged loan borrowers sweeten pricing as headline risk mounts

07 Jun 2019

NEW YORK, June 6 (LPC) - Borrowers tapping the broadly syndicated US leveraged loan market to fund their operations are peddling juicier spreads to attract investors wary of negative headline news.

World News

Iran denies its missile programme is up for negotiation

Iran denied on Tuesday that it was willing to negotiate over its ballistic missile programme, contradicting the chief U.S. diplomat and appearing to undercut President Donald Trump's statement that Washington had made progress on its disputes with Tehran.