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Investors nibble on debt of companies less exposed to economic slowdown but avoid riskier groups
2021 was a record year for US collateralised loan obligations
The CLO whale is on a diet
Deep discounts to offload bonds and loans in software maker’s LBO cost banks $600mn
Deal reflects difficulties raising funds as the economy turns and interest rates climb
Low demand for bonds and loans is Wall Street ‘canary’ as inflation risks rock capital markets
Leveraged lending risks are spelling themselves out but it remains an attractive business
Wall Street lenders expected to generate significant losses after agreeing to fund deal before economic slowdown
US telecom company’s market worth has fallen to under $100mn, squashed by $3bn of debt
Some movers just don’t have the appetite for storage
Barclays and BofA take losses in shifting debt backing the takeover of Worldline’s terminals business
Many loan term sheets lack definitions for ebitda allowing corporates to avoid breaching covenants
Apollo and Blackstone are among participants in $750mn financing for connected fitness company
Judge allows test case on issue in lawsuit against mattress maker Serta Simmons Bedding
NAV lending is part of proliferating range of products that apply financial engineering to financial engineers
Banks no longer retain a monopoly on financing blockbuster leveraged buyouts
Oil price surge and supply chain disruptions could add to pressure on rising prices
Corporate debt piles swelled during the pandemic with credit extended even to riskiest borrowers
Chair of supervision says regulator will raise capital requirements if exposure is not reduced
Swiss bank used derivatives to offload risks from lending billions to its richest clients
Weekly inflows hit highest level in five years on expectations of hawkish shift at US central bank
Companies increasingly push their total debt above the recommended six times earnings
Risks of not shifting soon enough to new Sofr market benchmark are rising
Rating agency points to opacity and eroding standards among risk factors
An intriguing measure that can be misleading
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