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Michelle Sierra

RPT-WeWork obtains commitments for US$6bn IPO-linked debt

06 Aug 2019

NEW YORK, Aug 5 (LPC) - Workspace provider WeWork has obtained commitments from at least 10 banks for US$6bn in credit facilities that remain contingent on the company's ability to push through with its planned initial public offering, sources told LPC.

WeWork obtains commitments for US$6bn IPO-linked debt

05 Aug 2019

NEW YORK, Aug 5 (LPC) - Workspace provider WeWork has obtained commitments from at least 10 banks for US$6bn in credit facilities that remain contingent on the company's ability to push through with its planned initial public offering, sources told LPC.

Market-based pricing disappearing on blue-chip US loans

18 Jul 2019

NEW YORK, July 18 (LPC) - Market-based pricing is disappearing in US investment grade lending as Credit Default Swaps (CDS) become a less relevant measurement of risk, and lenders feel less need to buy protection against the loans as top companies continue to perform in a stable economy.

CORRECTED-US loan market ready to feast on AbbVie's jumbo US$38bn bridge loan

27 Jun 2019

NEW YORK, June 27 (LPC) - A US$38bn bridge loan backing US biopharmaceutical company AbbVie’s US$63bn bid for Botox-maker Allergan, and the additional bank business the merger will generate, is expected to be welcomed with open arms by a robust US loan market starved of new lending opportunities.

CORRECTED-Sealed Air US$475m loan challenges bank appetite

25 Jun 2019

NEW YORK, June 25 (LPC) - Packaging company Sealed Air is wrapping up a US$475m term loan A (TLA) that has challenged banks' return models and pushed the limits on their appetite for funded assets.

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.

América Móvil prepares for loan market return, seeks at least US$2.5bn

20 May 2019

NEW YORK, May 20 (LPC) - Mexico’s América Móvil is scouting lenders to refinance at least US$2.5bn in revolving credit facilities maturing this August, according to three banking sources, preparing a comeback to the Latin American bank market, where it has not issued debt since 2016.

Pemex’s US$8bn loan request comes amid heavy uncertainty

15 May 2019

NEW YORK, May 15 (LPC) - Petróleos Mexicanos’ (Pemex) US$8bn bank loan comes amid heavy investor uncertainty over the oil company’s debt load, but lenders wanting to maintain links with Pemex and the left-wing administration overseeing the firm may have little choice but to commit to the financing.

Bankers root for Occidental as end to tug-of-war looms

08 May 2019

NEW YORK, May 8 (LPC) - Occidental Petroleum Corp looks to be winning its tug-of-war with Chevron Corp to acquire Anadarko Petroleum Corp, in a turn of events cheered by bankers seeing the prospect of more loan and debt financing tied to the Occidental bid than Chevron’s.

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.

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