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Bank Loan Report back issues
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Fool Me Once, Shame on the Covenants.(News)
July 6, 2009... Byline: Richard Kellerhals
Imagine a lender somewhere rocking out to The Who's "Won't Get Fooled Again." That person is probably thinking back to the covenant-lite era, when borrowers could obtain financing while offering little in return-a strong motivator for the state of covenants in...
Credit Suisse Shops $152M TL for Primary Energy.(Loan Market Buzz)
July 6, 2009... Byline: Editorial Staff
Credit Suisse is shopping a $152 million term loan for Primary Energy, an Oak Brook, Ill.-based energy company. Price talk on the loan is at Libor plus 850 bps, with an OID of 97 and a 2.5% Libor floor. The proceeds will be used to repay an existing $135 million...
Citi Goes Green with a $250 Million TLB for Terra-Gen.(News)
July 6, 2009... Byline: Richard Kellerhals
Citigroup is shopping a $250 million term loan B for Terra-Gen Power, a New York renewable energy company focused on geothermal, wind and solar power.
The bank held a meeting in a New York on June 29 and has set a commitment date for Tuesday. Price talk is...
Some Secured Liens More Equal Than Others.(News)
July 6, 2009... Byline: Matthew Sheahan
Spanish-language broadcaster Univision Communications was one of the many companies to successfully issue bonds in June. What distinguishes the New York-based company from its peers is the fact that the bonds were secured and that the intercreditor agreement puts...
Bonds See Upsurge, But Will It Last? Global High Yield Corporate Debt - US Dollar Denominated.(News)
June 29, 2009... Byline: Matthew Sheahan
New junk bonds are pricing again, and that alone makes the first half of 2009 a good six months. The second quarter in particular brought a big wave of new issues. Bankers and portfolio managers welcome the uptick and the adjustment in spreads, but few think that...