Unable to Woo Investors, Several Issuers Yank Loans

Clouse, Carol J.
May 2011
High Yield Report;5/30/2011, Vol. 22 Issue 22, p24
The article reports on the cancellation of several issuances in the leveraged loan market in May 2011 as a result of a lack of investor interest. Both Fortescue Metals Group and Smart & Final withdrew their credit facilities worth one billion U.S. dollars and 400 million U.S. dollars, respectively. The proposed amend-and-extend of Harland Clarke was also cancelled due to insufficient participation from investors on the term loan extension. Particular focus is given to price talk on the Fortescue deal.


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