"In the middle of difficulty lies opportunity"
Albert Einstein (1879 - 1955)

Structured Finance Daily Wrap: All NewDay...

PRIMARY: ABS All tranches of credit and store card ABS NewDay Partnership Funding 2015-1 are subject. Pricing is slated for this week. This afternoon the Class B went subject, after the other five tranches did so last week. The STG 185.25m Triple A rated Class A notes are guided at 1mL+90bps. STG 50m has already been preplaced. The notes have...Read more

Gala Coral could outline sponsor exit options...

Gala Coral CEO Carl Leaver said on today’s Q1 2014/15 results call that all the group’s sponsors will likely consider exit options at the end of the year, including a potential IPO. “We are building a track record which means [the business] will be an attractive proposition for the market…we should be in a position at the...Read more

Survitec allocates STG 250m...

Survitec's STG 250m TLB has allocated. The STG 125m tranche priced at L+475bps/ 99.5 OID and the STG 125m equivalent euro tranche at E+425bps/ 99.5. As previously reported, the margin was flexed two times by 25bps on each occasion during syndication, from initial guidance of L+525bps/E+475bps. The covenant-loose all-senior loan package also...Read more

EUR 325m OWIC distributed; deadline 14.00 UK...

A c. EUR 325m equivalent OWIC portfolio of mostly European loans and FRNs denominated in sterling, euros and dollars has been distributed with an offer deadline of 14.00 GMT on 4 March. Offers must be firm and unconditional and will remain irrevocable and open for acceptance by the buyer until 16.30 UK GMT. The top positions, in order of...Read more

All six tranches of NewDay 2015-1 subject;...

All tranches of NewDay Partnership Funding 2015-1, a credit and store card ABS originated by NewDay Ltd, have gone subject. This afternoon the Class B went subject; by last Friday the other five tranches were subject. Pricing is slated for early this week. The STG 185.25m Triple A rated Class A notes are guided at 1mL+90bps. STG 50m has already...Read more

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