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

Structured Finance Daily Wrap: Newhaven CLO...

PRIMARY: CLO Sankaty Advisors' Newhaven CLO formally priced after being upsized to EUR 361.4m from EUR 310m. The deal comprises eight tranches of rated debt – Classes A and B being split in two to offer both FRNs and fixed-rate notes. The equity piece is sized at EUR 38m, versus EUR 33.05m originally. The EUR 206.75m Triple A rated Class...Read more

Telepizza agrees revised restructuring deal,...

Spain-based Telepizza has agreed a revised restructuring deal with a majority of lenders that lowers senior cash-pay leverage to 3.7x from 4.5x under the original proposal, sources close to the situation said. The size of the EUR 540m refinancing is unchanged but it is now split between a EUR 275m (EUR 335m originally) six-year first lien term...Read more

Tunstall shareholders consider options for...

The owners of healthcare services group Tunstall are discussing routes to access additional capital to support the company’s business plan, sources close to the situation said. “It’s unclear at this stage if that means they will inject equity or contribute an equity-funded acquisition in exchange for an amendment/ covenant reset...Read more

Bids due on STG 62m 29-line RMBS/CMBS BWIC by...

Bids have been invited on a STG 62m equiv 29-line mixed BWIC by 2pm UK time tomorrow (18 September). The majority of the bonds are UK nonconforming RMBS; there are also 10 CMBS lines, one Portuguese RMBS and one Irish RMBS. The list comprises STG 5m of Bruntwood Alpha PLC (BRUNT 2007-1A) Class A notes; STG of 3m of Bruntwood Alpha PLC (BRUNT...Read more

Sankaty's Newhaven CLO formally...

Sankaty Advisors' Newhaven CLO has formally priced after being upsized to EUR 361.4m from EUR 310m. The deal comprises eight tranches of rated debt – Classes A and B being split in two to offer both FRNs and fixed-rate notes. The equity piece is sized at EUR 38m, versus EUR 33.05m originally. The EUR 206.75m Triple A rated Class A-1 FRNs...Read more

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