TITLE

Junk Woes Lead to Mini-Boom in Loans

AUTHOR(S)
Kantin, Kerry
PUB. DATE
April 2005
SOURCE
Investment Dealers' Digest;4/25/2005, Vol. 71 Issue 16, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article informs that the woes of the high-yield market are proving a boon to the leveraged loan market, as potential issuers flee the widening spreads in high yield for the comforting arms of extremely low pricing and voracious investor appetite in leveraged lending. Last week, Navarre Corp. announced plans to tap the loan market for a $ 165 million credit facility to finance, in part, its pending acquisition of Funimation Productions Ltd. However, the loan apparently wasn't the company's first choice in financing. Just lost month, Navarre had sought to back the same acquisition with a $125 million notes offering, an offering the company later said it terminated "due to the recent weakness of the bond market."
ACCESSION #
16847827

 

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