TITLE

"Hot Tub Time Machine" Repricings Burn Investors

AUTHOR(S)
Kellerhals, Richard
PUB. DATE
February 2011
SOURCE
High Yield Report;2/7/2011, Vol. 22 Issue 6, p21
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reveals the plan of several loan investors to reprice more than six billion U.S. dollars in loans at lower rates in 2011. A New York-based investor points out that there are more repricings than they are refinancings. During the week of February 7, 2011, a term loan B for Burger King, JPMorgan and Barclays started syndicatibg the loan and established the price talk at London Interbank Offered Rate (Libor) plus 325 basis points (bps). Nigel Travis of Dunkin' Brands explains the proposed re-pricing of their outstanding term loan debt.
ACCESSION #
57957382

 

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