BDC Filing Season Q1 2019 - Week 3 Update

Posted by Sourav Srimal on May 17, 2019 3:25:54 PM

BDC Filing season is almost over. This report will analyze BDCs that have filed in the last 3 weeks. Last week’s analysis is available here. 

Aggregate Fair Value reported by BDCs that have filed in Q1 2019 is 104 Billion USD. BDCs have reported 36 Billion USD AUM in this week.

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Topics: BDC Index, BDC, First Lien, business development company, Non-accruals, New Issues, Second Lien, BDC Filings, fair value

Fed announces fourth rate hike of 2018, markets react

Posted by David Diggins on Dec 20, 2018 12:21:11 PM

On Monday, President Trump criticized the Fed for even considering raising rates, yet on Wednesday the Federal Open Market Committee announced its decision to raise the Fed Funds rate ¼ of a percent from 2.25% to 2.5% -- the fourth such increase in 2018.

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Topics: High Yield, Analytics, bonds, junk bonds, market analytics, New Issues, Finance, Equity, Fixed Income, News

European Bond Research as of September 6th, 2017

Posted by Sean Riddell on Sep 6, 2017 12:55:15 PM
RISK-OFF SENTIMENT NOTCHED LOWER  among investors in European corporate debt. Relative to yesterday's levels of risk aversion, trades in corporate bonds reflected a   very slight favor for junk bonds in price gains linked to actual trades. Nonetheless   geopolitical overhang amid N. Korean nuclear warhead posturing  kept a lid on gains in risk assets. So too did   pressure on the European insurance sector ahead of projected damage by intense hurricane   Irma, headed for Puerto Rico and Florida. The   Stoxx 600 index vacillated in the shallow red  amid data showing a dip in Germany's manufactured-goods orders, although shares of   Deutsche Bank AG  and  Micro Focus International PLC  posted notable gains.
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Topics: bonds, CDS, New Issues

Hub Holdings, LLC Announces $375 Million Senior Secured Term Loan

Posted by Nick Buenaventura on Mar 8, 2017 2:32:02 PM

Hub holdings, LLC announced that it will increase its senior secured term loan by $375 million to refinance current oustanding debt. The proceeds will be mainly used to make payments on $300 million of second-lien secured notes and around $60 million of revolving credit. Following the announcement, Moody's announced that it would affirm the B3 corporate family rating and change the outlook on the debt from negative to stable. This outlook is based on the company's EBITDA growth and the feeling that they will be able to continue to reduce their leverage in 2017.

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Topics: Loans, New Issues, Second Lien

Level 3 Financing announces $4.61 billion Senior Secured Credit Agreement

Posted by Nick Buenaventura on Mar 1, 2017 12:55:32 PM

Level 3 Financing, Inc. , a wholly owned subsidiary of Level 3 Communications, Inc. (NYSE: LVLT), announced last week that it successfully refinanced its outstanding Term Loans through the issuance of a new TLB L+225/2024. The company anticipates approximately $35 million of cash interest expense savings on an annualized basis through this $4.61 billion senior secured agreement. At the day of issuance, ADI loan pricing services quoted an end of day bid for the loan at 99 3/4. Since then, the loan has traded up to a bid of 100 5/8 in the week and half since its first quote.

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Topics: Loans, First Lien, New Issues

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