Syndicated Scoop for January 2018: Record Year for CLOs, Look Out as Jumbo M&A Season Begins, and More
2 February 2018
Syndicated Scoop is Intralinks’ monthly newsletter providing a recap of the month’s top stories and insightful commentary related to the commercial and syndicated lending industry.
U.S. mid-market lenders concerned about leverage, loan docs: report
A recent survey on lending trend from Carl Marks Advisors revealed that U.S. mid-market lenders are increasingly concerned about the high levels of debt held by middle market companies versus a year ago, as well as what they consider to be less-restrictive leveraged loan documents. Read more
US CLOs may see record year as investors seek interest-rate hedge
The US Collateralized Loan Obligation (CLO) market may be heading for a record year in 2018 as investors seek floating-rate assets as a hedge to rising interest rates, according to Thomson Reuter’s LPC. 2017 saw the second-largest year of issuance ever, and with expectations for similar economic conditions this year, banks are optimistic for 2018 (Wells Fargo is predicting a record US$125bn in issuance). Read more
Lenders joyful as jumbo M&A season begins in the UK
GlobalCapital reports that investment-grade loans bankers are licking their lips as a spate of big UK M&A transactions gathered pace this week. But jumbo transactions rarely go smoothly, and lenders have already had to adjust expectations after GKN batted away an offer from Melrose. Read more
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