Adam Samoon

4 weeks ago | ionanalytics.com | Adam Samoon |Avery Champion

Data Insight There has been a recent sense of encouragement coupled with a tinge of disappointment for investors craving new bond supply. Global bond issuance volumes fell year-on-year (YoY) in 1Q25 despite a solid backdrop of several consecutive weeks of fund inflows, rampant collateralised loan obligation (CLO) formation, and tight spreads offering potential cheap coupon costs.

2 months ago | ionanalytics.com | Madalina Iacob |Adam Samoon |Carlos Martinez

News (Intelligence) Altice International downgraded to CCC+ on near-term maturities and high leverage Secured bondholders and lenders organize amid loose RP covenants Gibson also represents a cross-holders group of Altice France secured holders An ad-hoc group of Altice International secured creditors hired Gibson Dunn as legal counsel as the telecom giant comes under pressure from looming 2027 maturities, high leverage and declining earnings, said two sources familiar with the matter. The...

Sep 30, 2024 | ionanalytics.com | Adam Samoon |Avery Champion

The backdrop for global bond issuance suggests FY24 volumes could surpass those achieved in 2022 and 2023 as annual global issuance trends towards the record highs achieved in 2020. Increased refinancing activity, large LBO activity and rampant CLO formation have all been beneficial, while interest rate cuts and the tight trading range of the iTraxx Crossover have also boosted momentum.

Mar 28, 2024 | ionanalytics.com | Adam Samoon |Carlos Martinez

Data Insights Bond issuance volumes have been relatively muted in 1Q24 so far, though deal counts have been picking up encouragingly ahead of Easter. Global high-yield (HY) asset class volumes have been constrained, with many issuers waiting for interest rates to fall and thus considering cheaper coupon issuance in the coming quarters, while there has also been increased competition from other funding sources such as leveraged loans and private credit.

Mar 21, 2024 | ionanalytics.com | Madalina Iacob |Jay Antenen |Adam Samoon |Ben Miller

An ad hoc group of secured noteholders across Ardagh’s capital structure is working with Perella Weinberg Partners (PWP) as financial advisor, as the company is under pressure to address a slew of maturities in the coming years, said two sources familiar. The group is also working with Gibson Dunn as legal counsel, while the company has tapped Kirkland & Ellis and Houlihan Lokey as advisors. Meanwhile, a crossover group of unsecured holders is working with Milbank, the sources continued.