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Special Report on

Leveraged Finance News

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While returns in the 40% to 50% range portend a 2009 Grinch-free holiday season for most leveraged loan and high yield bond professionals, those dedicated to selling and trading junk bonds are on track to receive the highest bonuses on Wall Street this year, according to a new compensation study. (Leveraged loans sales and trading hasn’t done as well, but they aren’t looking at anything Dickensian either. More on that in a bit.) Everyone on the high yield bond team, from the associate to the head of Americas trading looks poised to receive a bonus 45% to 50% higher than last year, according to the 2009/2010 Global ...
The assets of the acquired company are used as collateral for the borrowed capital, sometimes with assets of the acquiring company. Typically, leveraged buyout uses a combination of various debt instruments from bank and debt capital markets. The bonds or other paper issued for leveraged buyouts are commonly considered not to be investment grade because of the significant risks involved. Companies of all sizes and industries have been the target of leveraged buyout transactions, although because of the importance of debt and the ability of the acquired firm to make regular loan payments after the completion of a leveraged ...
REVIEWS AND OPINIONS
Loan Market Heats Up with Four New CLOs
was still growing back all of her hair. Now, the details of four new CLOs have begun circulating, one of which will consist of new loans, a source familiar with the deal said. “This seems to confirm that the hot tub time machine has taken us back to 2006 to 2007,” quipped a New York-based investor. However, even with four new CLOs to talk about, market participants are still skeptical of their implication. “It’s an encouraging sign,” a Boston-based investor said. “However, the equity is not being marketed but being funded by a sponsor or company. With normal assumptions, returns will struggle ... market research, surveys and trends
Q&A: RBC Takes the Holistic Approach
Changes in the world of corporate debt have led banks to take a more holistic approach when working with high yield issuers and even some investor clients. Underwriters like RBC Capital Markets are, for example, offering traditional loan clients on both the buy and sell sides of the market senior secured bonds. RBC was a top five managing underwriter for North American syndicated loans for the first half of 2009, and over the last year has expanded its leveraged loan and high yield sales and trading teams with veterans of Citi , Bank of America Merrill Lynch , Morgan Stanley and others. Leveraged Finance News spoke with RBC’s market research, surveys and trends

SURVEY RESULTS FOR
LEVERAGED FINANCE NEWS

The New Loan Market: High Yield Bonds
It’s not that we don’t all love a good bank loan. They’re so, you know, secure. (Or they should be.) But evidence is mounting that leveraged loans are also, like, sooooooo 2006. But you don’t have to take my word for it—take the chart’s. You can check it out below. I’d been chatting with John Ong about his new gig as head of debt capital markets at Sunrise Securities —a profile also on LeveragedFinanceNews.com —and he’d explained how Sunrise, in starting its new DCM group, was betting the leveraged loan market won’t rebound any time soon. The firm, and they aren’t the ... industry trends, business articles and survey research
Bondholders get big payout from Chevy Chase Bank sale - Washington ...
Five years ago the Bethesda-based company issued $250 million in bonds secured by the company’s ownership of Chevy Chase Bank. When Capital One’s purchase of the bank was announced early this month, those bonds were reportedly trading for about 58.75 percent of their face value. Bondholders who bought at that price could get a return of more than 80 percent on their investments next year when the company redeems the bonds before their maturity, an action that results in a payout greater than face value. “You don’t see point spreads like this very often,” said Anthony Canale, who authored a Dec. 9 ... industry trends, business articles and survey research
RELATED NEWS
Disney `Millionaire', Marsh, First Republic, HSBC, Carlyle in Court News
was found liable for not paying the U.K. creators of “Who Wants to Be a Millionaire” their share of profits from the quiz show broadcast on Disney’s ABC network. A federal court jury in Riverside, California, yesterday awarded $269.4 million in damages to Celador International Ltd. The jurors agreed that Disney’s Buena Vista Television and ABC breached an agreement that entitled Celador to 50 percent of the profits from the show, which first aired in the U.S. in 1999 and helped lift the network to first place from third in audience ratings. “We believe this verdict is fundamentally wrong and will aggressively seek to have it ... market trends, news research and surveys resources
Gatehouse acquires One Sovereign Street
London-based Gatehouse Bank, the latest Islamic bank to be authorized by the UK's Financial Services Authority (FSA), has acquired One Sovereign Street, the home of British Telecom (BT's) regional headquarters in Leeds, for 40.175 million pounds sterling in one of the biggest commercial property deals to be closed in Yorkshire this year. One Sovereign Street represents Gatehouse's third real estate acquisition in the UK to date following its acquisition of the headquarters of Proctor & Gamble in Weybridge, Surrey in December 2009 and a portfolio of student accommodation units in Liverpool and Loughborough in March ... market trends, news research and surveys resources

INFORMATION RESOURCES

Steven Miller manages the Standard & Poor's Leveraged Commentary ...
Steven Miller manages the Standard & Poor's Leveraged Commentary & Data business (LCD), the authoritative source of leveraged-finance news and information. ... technology research, surveys study and trend statistics
FDIC: Press Releases - PR-175-2009 9/24/2009
WASHINGTON — Credit quality declined sharply for loan commitments of $20 million or more held by multiple federally supervised institutions, according to the 32nd annual review of Shared National Credits (SNC). The credit risk of these large loan commitments was shared among U.S. bank organizations, foreign bank organizations (FBO), and nonbanks such as securitization pools, hedge funds, insurance companies, and pension funds. Credit quality deteriorated across all entities, but nonbanks held 47 percent of classified assets in the SNC portfolio, despite making up only 21.2 percent of the SNC portfolio. U.S. bank ... technology research, surveys study and trend statistics
MSU News Service - Lies and Pulfrey's MSU educations help engineer ...
Mark Lies, left, and Cory Pulfrey joke while on a fishing trip this summer. The two were roommates when they graduated from MSU with degrees in chemical engineering more than two decades ago, yet both went on to successful careers in corporate finance. Photo by Kelly Gorham Mark Lies and Cory Pulfrey are two former Montana boys whose careers shot them to the top of the country's leading financial institutions. Yet, neither man would have ended up in the rarefied levels of corporate America had he not started his journey 30 years ago as a chemical engineering student at Montana State University. "MSU trains people who ...
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Google Answers: I need a list of every department at Credit Suisse ...
Credit Suisse First Boston (CFSB)'s New York office is also the company's Global Headquarters. The company has three broad departments or divisions: Institutional, Investment Banking, and Investment Management. See: http://www.csfb.com/home/index/index.html Under those departments are more divisions. See CSFB's page on "Corporate Structure & Management": http://www.csfb.com/about_csfb/company_information/structure/index.shtml "Securities Division: Equities Fixed Income Investment Banking Division: Investment Banking Private Equity Private Client Service" I went through CSFB's ...
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If you know the State in which the business is incorporated, then visit that state's Secretary of State webpage. They almost always have a free search function that will provide you with name, address and registered agent. For a fee, you can download articles of incorporation, by-laws, etc. depending on the State. posted April 8, 2009 A jack of many trades and a master of some... see all my answers Best Answers in: Web Development (6), Accounting (3), Starting Up (3), Using LinkedIn (3), Business Development (2), Change Management (2), Blogging (2), Education and Schools (1), Venture Capital and Private Equity (1), ...