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Jun 30, 2024 | 
9fin.com | David Bell |Emily Fasold |William Hoffman
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Jun 7, 2024 | 
9fin.com | David Bell |Emily Fasold |Bill Weisbrod
Market WrapDavid Bell+Emily Fasold+ 1 more7 June 2024•6 min readThere’s plenty to keep track of in the leveraged finance market — whether it’s the volume of more aggressive financings hitting the tape for a wider range of borrowers, or the swathe of liability management exercises coming for highly levered companies still struggling for market access.
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Mar 29, 2024 | 
9fin.com | David Bell |Bill Weisbrod |Emily Fasold
Market WrapDavid Bell+Bill Weisbrod+ 1 more29 March 2024•7 min readDrama across the pond in Altice’s sprawling capital stack kept US leveraged finance investors on their toes this week, while some trickier deals such as Russell Investments labored to get done in a primary market that’s still cautious around riskier names.
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Feb 23, 2024 | 
9fin.com | Emily Fasold |William Hoffman |Bill Weisbrod
Market WrapEmily Fasold+William Hoffman+ 1 more23 February 2024•5 min readIf this week showed us anything, it’s that even today’s bullish primary market isn’t all one-way traffic. On the one hand, debt investors are scrambling to buy into some tightly priced new issue deals, such as Cotiviti’s$5bn term loan package to fund its buyout by KKR,which is being offered at SOFR+350bps with a 99.5 OID and was oversubscribed at launch.
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Jan 1, 2024 | 
9fin.com | Emily Fasold |Bill Weisbrod |Nicolle Liu
Market WrapEmily Fasold+Bill Weisbrod+ 1 more2 January 2024•6 min readIt feels like just yesterday that we published our last wrap of 2022, and now, here we are — the last business day before another brand-new year. We won’t bore you with too much reflection, but 2023 has been a wild ride, with watershed events like the collapse of Silicon Valley Bank, UBS’ emergency takeover of Credit Suisse and persistent interest rate hikes all taking a toll on the primary market.
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Oct 17, 2023 | 
9fin.com | Emily Fasold |Bill Weisbrod
News and AnalysisEmily Fasold+Bill Weisbrod17 October 2023•3 min readTrue Religion, the apparel business known for its denim products, has retained RW Baird to advise on an upcoming sale process, according to 9fin sources. The company, which filed for bankruptcy in 2020 — for the second time in three years — has made a strong comeback in recent quarters. It is expects to generate around $70m in EBITDA on $250m in revenue this year, according to a source close to the situation.
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Oct 5, 2023 | 
9fin.com | Bill Weisbrod |Emily Fasold
High yield spreads are at their highest point of the year and the S&P 500 is down nearly 4% over the past month. Nobody panic! Maybe just take a deep breath instead, and put things in perspective. “The market is still pretty good, it’s just taking step backwards,” said a leveraged finance banker. “Repricings may get put on hold, but stuff can still get done.”To that end, there are no new high yield issuances currently in market, according to 9fin’s tracker.
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Aug 17, 2023 | 
9fin.com | Emily Fasold |William Hoffman |David Bell
Market WrapEmily Fasold+William Hoffman+ 1 more17 August 2023•5 min readHalfway through the month, it’s finally starting to feel like August. For those of us not on vacation this week, outbound calls are going straight to voicemail, out-of-the-office emails are flooding our inboxes, and after a whirlwind couple of weeks, it appears that the annual primary market slowdown is finally upon us. Of course, that isn’t to say that nothing is going on.
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Aug 10, 2023 | 
9fin.com | William Hoffman |Bill Weisbrod |Emily Fasold
Market WrapWilliam Hoffman+Bill Weisbrod+ 1 more10 August 2023•6 min readSomeone didn’t get the memo that there is supposed to be a summer market slowdown. Between all the repricings and refi deals, hardly any of it is new supply, but the market is nonetheless inundated with deals during what is historically one of the slowest months of the year. Through two weeks of August, monthly HY bond issuance has already surpassed all of July’s volume at over $6bn, according to data from JP Morgan.
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Aug 10, 2023 | 
9fin.com | Emily Fasold
Communications company seeks high yield bond investors to redeem out-of-the-money convertible notes. Ring any bells? RingCentral is in the primary market this week with a $400m senior unsecured offering to repay some busted converts. At least on the surface, the situation looks similar to the deal that Avaya executed last year before it ultimately filed for bankruptcy.
