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At least $700bn of junk loans are still priced using lending benchmark, just 30 days before the rate is set to expire
Lenders return to funding leveraged buyouts after painful year in which fees were hit hard
Plus, Warren Buffett’s successor gets comfortable with the limelight
Serta Simmons bankruptcy ruling has opened the door to aggressive new tactics
Dan Kamensky returns to distressed debt markets to shine light on industry’s hardball tactics
Goldman Sachs, Bank of America and Credit Suisse unload remnants of deal struck in the easy money era
Serta Simmons court decision is milestone in ‘creditor-on-creditor violence’ litigation
Apollo and Blackstone among those poised to provide $5.5bn of debt to buyout group for purchase of 50% stake in Cotiviti
Credit investor is latest private lender aiming to fill void left by Wall Street banks
Borrowers and lenders in $1.4tn leveraged loan market scrap over fine print of replacing scandal-hit benchmark
Wall Street banks seek to offload billions from one of biggest ‘hung deals’ of 2022
Increasing shift to non-public financing raises risks over the transparency of companies and their debt
Recent US employment and inflation data hint that US rates will not fall soon
Angelo Gordon’s positions differ in contested Revlon and Serta Simmons bankruptcies
‘Portable capital structures’ avoid need to refinance in tough environment for corporate takeovers
Lower demand for risky corporate debt could threaten companies’ ability to refinance
Deal to help fund satellite operator’s takeover edged out a competing loan offer from Wall Street banks
Investors approached to purchase stock at $54.20 buyout price as social media company bleeds cash
Making large equity investments in a single company can be a risky strategy
Investment by group comes weeks after it spent $1bn buying junk bonds tied to its takeover of Citrix
Investors are keeping a close eye on areas ranging from US Treasury market illiquidity to Japanese government debt
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
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