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United Kingdom

Jonathan Schwarzberg

US leveraged loans calendar shows green shoots

17 Apr 2019

NEW YORK, April 17 (LPC) - The calendar for US leveraged loans is at the highest point of the year with new deals including drug developer Catalent Pharma Solutions’ US$1.2bn purchase of gene-therapy company Paragon Bioservices and private equity firm Apollo Global’s US$1.1bn acquisition of Smart & Final Stores providing a boost.

MOVES-UBS merges divisions into one leveraged capital markets group - LPC

17 Apr 2019

LONDON, April 17 (IFR) - Swiss investment bank UBS is slated to merge its debt capital markets (DCM) and leveraged capital markets (LCM) units into a single global entity, according to an internal memo obtained by LPC, a unit of Refinitiv.

UBS merges divisions into one leveraged capital markets group

16 Apr 2019

NEW YORK, April 16 (LPC) - Swiss investment bank UBS is slated to merge its debt capital markets (DCM) and leveraged capital markets (LCM) units into a single global entity, according to an internal memo obtained by LPC, a unit of Refinitiv.

Deutsche Bank makes strides in US leveraged lending

04 Apr 2019

NEW YORK, April 4 (LPC) - Deutsche Bank was the biggest mover among the league tables for investment banks underwriting leveraged loans during the first quarter of the year, according to data from LPC, a unit of Refinitiv, despite turbulence in the debt and equity markets that slowed lending in December and into January.

Staples US$3.2 billion dividend loan tests U.S. market's recovery

29 Mar 2019

NEW YORK (LPC) - Opportunistic and aggressive loans financing dividend payments to private equity firms, such as a US$3.2bn loan for office supply company Staples, are back on the agenda as sponsors exploit excess investor demand while dealflow remains thin.

Staples US$3.2bn dividend loan tests US market's recovery

29 Mar 2019

NEW YORK, March 29 (LPC) - Opportunistic and aggressive loans financing dividend payments to private equity firms, such as a US$3.2bn loan for office supply company Staples, are back on the agenda as sponsors exploit excess investor demand while dealflow remains thin.

Venezuela-owned Citgo rallies non-banks to raise US$1.2bn in loans

28 Mar 2019

NEW YORK, March 28 (LPC) - Venezuela-owned oil refiner Citgo mandated broker dealer and non-bank lender Jefferies to arrange a US$1.2bn term loan, after its previous traditional bank lenders declined to participate due to regulatory pressure to comply with political restrictions on doing business with its South American parent, sources familiar with the transaction said.

Companies reinstate ‘investor calls’ as market volatility strips clout from borrowers

26 Mar 2019

NEW YORK, March 26 (LPC) - Bouts of volatility in the US$1.2trn leveraged loan market has given lenders clout to push for heightened credit protections, including quarterly discussions with borrowers, which were eliminated as demand for loans soared in recent years.

Leverage levels peaking again on US mega buyouts

22 Mar 2019

NEW YORK, March 22 (LPC) - Leverage levels on US private equity buyouts are returning to record levels and private equity firms’ equity checks are shrinking as banks underwrite more aggressive loans, safe in the knowledge that they will not be penalized by regulators.

Power Solutions’ US$5.45bn loans expected to fly amid thin supply

07 Mar 2019

NEW YORK, March 7 (LPC) - A limited supply of US leveraged loans looks likely to ensure a strong reception for a US$5.45bn loan which is part of a US$10bn financing package backing the buyout of Johnson Control’s auto battery unit, Power Solutions, despite more than US$15bn of outflows from loan funds in recent months.

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