High Yield Report articles from July 2009

High Yield Report archives from July 2009

Credit Suisse Shops Primary Energy TL.(News)
July 6, 2009... Byline: Richard Kellerhals 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...

Deutsche Combines HY Bond and Loan Teams.(News)
July 6, 2009... Byline: Carol J. Clouse Deutsche Bank has integrated its high yield loan and bond sales, trading and research effort and appointed Rich Byrne to lead the new noninvestment grade debt team, according to an internal memo obtained by...

Hecla Mining Cuts Debt, Amends Agreement.(News)
July 6, 2009... Byline: Matthew Sheahan Hecla Mining made a prepayment on its term loan and amended its credit agreement to reduce borrowing costs and gain greater flexibility, the company announced June 30. The Coeur D'Alene, Idaho-based gold and...

Cos. to Price More than $1.7B in HY.(News)
July 6, 2009... Byline: Matthew Sheahan Kicking off the second half of the year, five companies are bringing a total of $1.76 billion in high yield bonds to the primary today. Issuers are on pace to sell more than $3.2 billion in new junk bonds this week....

European Loan Prices Up 40%.(News)
July 6, 2009... Byline: Richard Kellerhals The average leveraged loan price in Europe has risen 40% so far this year, according to Standard & Poor's Leveraged Commentary and Data. The average price of European loans hit a nine-month high of 85.6 on...

Huntsman, Banks Settle Lawsuit.(News)
July 6, 2009... Byline: Richard Kellerhals The struggle between Huntsman Corp. and the two banks that committed to fund the merger between the Texas-based chemical company and Apollo Management's Hexion Specialty Chemicals has come to an end. ...

Suburban Propane Secures $250M CF.(News)
July 6, 2009... Byline: Richard Kellerhals Suburban Propane Partners, a Whippany, N.J.-based propane fuel oil distributor, has secured a $250 million term loan from a bank consortium, including Bank of America and Wells Fargo. The proceeds from the...

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...

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...

E*Trade Financial Makes Exchange Offer Progress.(News)
July 6, 2009... Byline: Matthew Sheahan Financial services company E*Trade Financial has met with early success following the launch of an exchange offer, the New York-based company said today. The company will exchange approximately $1.7 billion in...

Lear Lines Up $500 Million DIP.(News)
July 6, 2009... Byline: Richard Kellerhals Lear Corp., a Southfield, Mich.-based automotive parts supplier, has lined up a $500 million debtor-in-possession loan from JPMorgan and Citigroup as part of a prepackaged bankruptcy. The company is expected...

Cantor Adds to London Lev Finance Team.(News)
July 6, 2009... Byline: Matthew Sheahan Cantor Fitzgerald has expanded its leveraged finance group in London and could have as many as 10 leveraged finance professionals there by the end of the year, according to Martin Teevan, Cantor's senior managing...

Price Talk on Real Mex Bonds Hits 18%.(News)
July 6, 2009... Byline: Matthew Sheahan Price talk on Real Mex Restaurants proposed $110 million in senior notes due 2012 has hit 18%, according to KDP Investment Advisors, which expects the bonds to price today. Issuers will sell $2.235 billion in new...

HY Bond Fund Outflows to Continue.(News)
July 6, 2009... Byline: Matthew Sheahan High yield bond fund outflows are expected to continue for a second straight week, as investors exhibit a renewed caution. The funds posted outflows for the first time since March last week, ending a 14-week inflow...

Six Cos. Plan to Issue $1B in HY.(News)
July 6, 2009... Byline: Matthew Sheahan Six companies plan to hit the high yield bond market today, with offerings totaling more than $1 billion. In all, companies have announced more than $2.2 billion in new issues, which are expected to price before the...

Georgia-Pacific Lenders Approve Amendment.(News)
July 6, 2009... Byline: Richard Kellerhals Just days after blocking an amendment, a group of lenders to Georgia-Pacific has agreed to let the Atlanta-based paper, packaging and building materials company amend its credit facility. The lenders last...