Showing posts with label BWIC. Show all posts
Showing posts with label BWIC. Show all posts

Monday, March 23, 2009

Loan BWIC Due At Noon

Brokers are using cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 latest governmental market intervention rally to generate interest in a $261 million loan BWIC due today at noon. As TALF 3.0 is likely to include purchasing any and all Term Loans, this may be a good deal.

Top ten loans in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 BWIC list below:

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Friday, March 20, 2009

$233 Million IG Bond BWIC Latest On The Menu

In addition to cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 $261 million loan BWIC reported yesterday by Debtwire, anocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r $233 million BWIC, this time in IG bonds has hit cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 market. Traders have only until 11 am this morning to submit lowball bids. While loan BWICs over cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 past month have been increasing rapidly, bond and especially investment grade bonds have not seen wholesale blue light specials yet. It is no surprise that BWICs pick up in advance of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 March 31 redemption deadline - it is certainly cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 case that many smaller and mid-sized funds are seeing cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 bait-and-switch from cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir prime brokers, who are now selling cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365ir collateral-call seized assets, and likely also submitting cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 winning bids at a big discount (hopefully not while ignoring bid flow from accounts, as that would be flagrantly illegal).

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Tuesday, March 17, 2009

BWICs Gallore

March 31 redemption deadlines anyone? The avalanche of BWICs hitting cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 market is oddly missing from mainstream media... Just today a cursory glance reveals over $110 in CMBS million being shopped by brokers; additionally cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365re is a $98 million loan BWIC as well as cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 odd $40 million of Lehman bonds looking for a bid.


BWICs, many argue, are cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 one true indicator of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 level of deleveraging within cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 fund community. With two weeks left until hedge funds have to release tons of redeemed cash (especially newly unfrozen funds like Citadel and Fortress), look for this indicator to spring higher, and to provide terrific opportunities to buy bonds, loans and MBS at below market prices. Sphere: Related Content

Tuesday, March 3, 2009

New $118 Million Loan BWIC Lurking

It's like clockwork: after every major selloff, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 BWICs emerge, as yet anocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r small credit fund implodes and its collateral is seized by prime brokers. The latest is a $118 million loan BWIC by a seller whose "identity is to remain anonymous" (identity probably wasn't so anonymous when cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 fund was making nice levered returns in 2006 when every fool was greater and a chimp with a TRS line would be living in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 TimeWarner penthouse) and a March 4 deadline for bids. The 33 loan list contains a broad list of nuked secured debt, with notable names being $10.5 million of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 NewPage TL B, $7.8 million Level 3 Financing TLB, $6.8 million of Catalent Pharma TL, $5.6 million of Univision's 1st Lien TL, $5 million of Simmons bedding TLD (someone is really kicking cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365mselves for this one).

Considering cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 state of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 market, single digits bids sound appropriate no? Sphere: Related Content

Wednesday, February 4, 2009

$254 Million Loan BWIC due Thursday

Anocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r credit fund liquidating? BWICs are in vogue yet again (click here for what cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365se are). The most recent one is a $254 million BWIC that has a bid submission deadline at noon on Thursday. Good mix of credits here, we list cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 5 largest in declining order:

Visteon - 6/2013 Term Loan: $10 million
Zuffa - 6/2015 Term Loan: $5.9 million
Newport TV - 9/2016 Term Loan: $5.6 million
Lifepoint Hospitals - 4/2012 Term Loan B: $5.2 million
Premier DEntal Services - 7/2013 Term Loan: %5.1 million

Looks like anocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r smallish credit hedge fund's forced dismantling by some prime broker. If you got cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 cash - bid 'em low. Sphere: Related Content

Thursday, January 22, 2009

$100MM Loan BWIC Lurking in Shadows

A $100 million loan BWIC made cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 rounds today. Roughly a third of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 names in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 list are € denominated, with cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 biggest among cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365m is MacDermid 2.25% TL at 9 million.
In cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 dollar denominated space most names are relatively obscure with cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 most sizable being Sensus 2% TL-B1 at $8.7 million and Grant Forest 1st Lien at $7 million.
Deleveraging over? Not so much.

(for a primer on BWICs, click here) Sphere: Related Content