TITLE

The Return of OIDs In Leveraged Loans

AUTHOR(S)
Kantin, Kerry
PUB. DATE
June 2005
SOURCE
Investment Dealers' Digest;6/6/2005, Vol. 72 Issue 22, p15
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on trends in the leveraged loan market. Not only has pricing been flexed up for a number of deals that currently are in syndication or have recently closed, but there also have been a handful of loans in which the banks have granted investors something they haven't seen in a long time: the original issue discount. Overall, conditions still favor issuers, as the market remains awash with liquidity and demand for loan paper remains strong. But people did take notice when the list of deals for which pricing was flexed up began to grow, as this has not been the case for quite some time.
ACCESSION #
17234491

 

Related Articles

  • Investors Flex Muscles to Win Sweeter Deals. R. K. // Bank Loan Report;6/21/2010, Vol. 25 Issue 25, p1 

    The article reports on the move of U.S.-based banks in luring investors to buy original issue discount (OID) bonds. According to Thomson Reuters, banks have flexed up about 10 billion dollars in loans, which is the highest volume loan market prices since 2007. It mentions that companies with...

  • For Axcan, Bonds Are The New Loans. M. S. // High Yield Report;2/18/2008, Vol. 19 Issue 7, p5 

    The article focuses on the plan of Axcan Pharma Inc. to issue $235 million bonds in senior notes due in 2016. The company added $225 million in senior secured notes due in 2015 out of its attempt to introduce a term loan. It is noted that the price talk on secured notes was originally at 9%....

  • Loan Investors Gain Upper Hand in Third Quarter. A. B. C. // Leveraged Finance News;10/3/2011, Vol. 1 Issue 38, p1 

    The article reports on the adjustment of the leveraged loan market in the third quarter of 2011. It says that preference for higher quality was shown in three big deals with original issue discount (OID) that came to market in September 2011. It states that higher-quality loans can also be...

  • Banks Set OID on Hillman TL. Kellerhals, Richard // High Yield Report;5/3/2010, Vol. 21 Issue 18, p22 

    The article reports that the original issue discount (OID) on a term loan B that is backing the acquisition of Hillman Cos. by Oak Hill Capital Partners has been set at 99 cents on the U.S. dollar by banks Morgan Stanley, Barclays and GE in 2010.

  • Weather Channel's $1.3B TL Hits Market. Kellerhals, Richard // High Yield Report;3/15/2010, Vol. 21 Issue 11, p7 

    The article offers information on the launching of a 1.3-billion-U.S.-dollar term loan that includes an original issue discount (OID) of 99 and a 1.5% London Interbank Offered Rate (LIBOR) by Deutsche Bank and Credit Suisse for television company TWCC Holding in Atlanta, Georgia and is...

  • Aramark Prices $600M PIK Deal at Discount. Sheahan, Matthew // High Yield Report;4/11/2011, Vol. 22 Issue 15, p27 

    The article discusses the 600-million U.S.-dollar worth of PIK toggle notes sold by Aramark, which priced the 8.625% PIK toggle notes due 2016 with an original issue discount of 99.0 to yield 8.874%, and plans to use the proceeds for a dividend payment to its private equity owners.

  • Crown Castle To Issue $1.1B In Bonds. Sheahan, Matthew // High Yield Report;4/20/2009, Vol. 20 Issue 16, p9 

    The article reports on the plans of Crown Castle International to issue 1.1 billion U.S. dollars high yield bonds in April 2009. The senior secured notes with an original issue discount (OID) of 8.25% will mature in 2017. Morgan Stanley is the lead bookrunner of the deal. Proceeds will...

  • BofA to Launch $360M Exit Loan for Big West. Kellerhals, Richard // High Yield Report;1/11/2010, Vol. 21 Issue 2, p31 

    The article reports on the launch of a 360-million-U.S.-dollar exit term loan by Bank of America Merrill Lynch for Big West Oil on January 14, 2010. The loan was priced at London Interbank Offered Rate (Libor) plus 950 basis points (bps). It will have an original issue discount (OID) of 96. The...

  • The Service Traces Clearer Definitions in the Proposed Regulations on "Publicly Traded" Debt Instruments. Picchione, A. J. // NewsQuarterly;Spring2011, Vol. 30 Issue 3, p13 

    The article discusses the proposed regulations on "publicly traded" debt instruments. It cites the rules for calculating the amount of original issue discount (OID), which is attributable to specific debt instruments. It presents the importance of the publicly traded debt rule in determining the...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics