United States

Rachelle Kakouris

US high-yield rally could spur riskier deals

Oct 18 2013

NEW YORK, Oct 18 (IFR) - Beware, the bulls are back in junk bonds with a big thirst for yield now that Treasuries have rallied, with issuers gearing up to make the most of it by selling a litany of high-risk structures and opportunistic trades in coming weeks.

US junk-rated defaults decline in Q3: Moody's

Oct 16 2013

NEW YORK, Oct 16 (IFR) - Debt defaults by US speculative-grade companies declined in the third quarter, breaking a streak of rising defaults over the prior three quarters, Moody's said on Wednesday.

Caesars sweetens deal for bond, loan investors

Sep 26 2013

NEW YORK, Sept 26 (IFR) - Debt-laden casino operator Caesars has had to sweeten the terms of its new USD4.85bn bond and loan package to whet investor appetite for the highly leveraged and complex debt deal.

Corporate bond buyers come back with a vengeance

Jul 26 2013

NEW YORK, July 26 (IFR) - Are US fund managers a collection of manic-depressives swinging rapidly from one extreme to the other? A cursory glance of the US corporate bond markets might make you think so.

Junk bond yields fast approaching 7%

Jun 26 2013

NEW YORK, June 26 (IFR) - Junk bond yields have shot up to nearly 7% for the first time in almost a year, as immense volatility and brutal selling have pushed valuations 2% higher from their May lows.

Valeant sweetens terms on M&A debt financing

Jun 25 2013

NEW YORK, June 25 (IFR) - Pharmaceuticals giant Valeant sweetened the terms on its proposed new loan and high-yield debt financing package, sources said Tuesday, as it looks to fund its USD8.7bn acquisition of Bausch & Lomb in an extremely jittery market.

Valeant sweetens terms for proposed M&A bond

Jun 24 2013

NEW YORK, June 24 (IFR) - Valeant Pharmaceuticals has sweetened the terms on its proposed jumbo high-yield bond, as the pharma giant tries to get a deal done in an extremely unwelcoming issuance climate.

M&A borrowers set to test US high-yield markets

Jun 21 2013

NEW YORK, June 21 (IFR) - Unrelenting volatility has kept junk-rated borrowers out of the funding markets in recent days. But with commitments for its M&A financing already in place, pharmaceutical giant Valeant has little option but to tackle a tumultuous market head on with a mega-sized deal.

NFP lone issuer to tap US markets before Fed

Jun 19 2013

NEW YORK, June 19 (IFR) - National Financial Partners Corp was the only issuer to brave the US funding markets Wednesday, testing the waters while other issuers stayed on the sidelines ahead of the highly anticipated Federal Reserve statement later in the day.

High yield deals seen going forward, but outflow risks may rise with rates

May 29 2013

NEW YORK, May 29 (IFR) - As Treasuries sold off in recent days, the higher quality segment of the high-yield market has taken a hit, but bankers indicate that most borrowers won't let this affect their plans to come to market.

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