• Fed, Loans

    The Fed Put In Loan Provisions

    Corporate loan agreements are being drafted to include an express provision allowing lenders to transfer their loans to the Federal Reserve, a loan expert tells DealBreaker. The Fed has been accepting a much broader range of collateral in exchange for short-term loans through what is known as Fed “repos.” In a repo, dealers bid on […]

    / Jun 24, 2008 at 4:34 PM
  • Loans

    PIK Toggles And The Credit Crisis.

    Despite the now two-month old rising stock and some signs that the frozen credit markets have unthawed, bad news continues to pour out of the credit markets. This morning the Wall Street Journal reported that a number of companies that issued debt with easy terms are now making use of those options to conserve cash. […]

    / May 19, 2008 at 11:49 AM
  • Loans

    Is The Syndicated Loan Market On The Edge Of A Major Disruption?

    “All of us [banks] are really in the moving, not the storage, business.” With those words the world learned yesterday that Credit Suisse had sold off its exposure to three closely syndicated loan deals—the buyouts of Harrah’s, Intelsat and Alliance Data Systems. Many in the syndicated loan business were taken aback that Credit Suisse had […]

    / Feb 12, 2008 at 11:45 AM
  • Loans

    A Recovery For LBO Debt?

    Are buyers for LBO debt back? Monday’s $11.5 billion debt offering for Energy Future Holdings, the company that is taking over for TXU, reportedly went much better than many expected. The underwriters—Citigroup , J.P. Morgan Chase, Goldman Sachs, Morgan Stanley, Credit Suisse and Lehman Brothers—are said to be offering the loans almost at par and […]

    / Oct 17, 2007 at 4:01 PM
  • Citigroup, KKR, Leveraged Buyouts, Loans, Private Equity

    KKR Might Be Timing The LBO Loan Market

    The market for LBO loans has opened up since the catastrophe of August. By offering the loans to investors at a discount, and eating the loss, the banks that committed to make them have begun to clear them off their books But, as the Wall Street Journal’s Henny Sender reports today, the amount of loans […]

    / Oct 10, 2007 at 1:36 PM
  • First Data, Leveraged Buyouts, Loans

    First Data Buyout Loans: Signs Of Life In The Loan Market

    More news from planet LBO. Despite the rocky news on Archstone this morning, things are looking up this afternoon. The banks financing Kohlberg Kravis Roberts & Co. buyout of First Data Corp began selling around $10 billion of the deal’s bank loans. As predicted, the loans sold at a discount. But at 96 cents on […]

    / Sep 27, 2007 at 5:02 PM
  • Banks, Lehman, Leveraged Buyouts, Loans

    Archstone’s Bank Loans Going Nowhere Fast

    There’s no doubt that Planet LBO is a calmer place now than it was through much of the summer. But it’s not exactly terra firma yet. One of the shakiest deals in the pipeline is the buyout of real estate investment trust Archstone-Smith Trust. Lehman Brothers and Tishman Speyer are putting just $500 million of […]

    / Sep 27, 2007 at 12:32 PM
  • Goldman Sachs, Leveraged Buyouts, Loans

    Goldman Testing Covenant Lite Market
    Shopping The Laureate Education Senior Debt

    Goldman Sachs and other underwriters are attempting to syndicate $775 million of covenant-lite term loans, Reuter’s Mike Flaherty reported last night. The loans were made to fund the buyout of Laureate Education at a spread of 325 basis points over Libor, and were fully funded by the underwriters at the close of the deal. Now […]

    / Sep 11, 2007 at 11:46 AM
  • Loans

    They (Will) Know Nothing!

    If Jim Cramer was mad at the prospect of millions of Americans losing their homes, who knows what Krakatoa-esque calamity awaits when he finds that millions of Americans may lose their student loans. In the current credit crunch, student loans have been flying under the radar, at least coverage-wise. Like mortgages, student loans often get […]

    / Aug 28, 2007 at 12:12 PM

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