Press releases

5 Things to Know (12/2/19)

  • BDCs reporting earnings in the third quarter saw their NAV per share drop as a declining Libor rate and underperforming credits take their toll on middle market lenders.
  • Issuance in the US CLO market is forecast to fall next year as spreads remain wide, eating into returns paid to the most junior investors in the funds.
  • Banks are lining up to provide around £1.4bn of debt to back the acquisition of LGC by a private equity consortium led by European firms Cinven and Astorg.
  • LVMH has lined up around US$17bn-equivalent of loans to back its US$16.2bn acquisition of Tiffany. The acquisition financing is expected to be refinanced in the bond markets.
  • Ahead LLC has obtained US$440m debt from the private-lending market after initially seeking a syndicated financing in September for its merger with Data Blue.

More syndicated loan coverage on LoanConnector.