Bloomberg reports that at least seven new-issue CLOs are currently marketing, with January new-issue volume at nearly $9 billion. The rise in sales comes as risk premiums for new transactions have tightened to pre-pandemic levels, prompting managers to market new deals at favorable terms and refinance and reset existing bonds at cheaper costs. [Bloomberg; Feb.
Reuters reports that the Brazilian government will forgive approximately US$1.3 billion worth of debt owed to it by telecommunications firm Oi SA, which has been involved in a pending bankruptcy proceeding in Brazil since 2016. [Reuters; Nov. 27, 2020]
Reporting from Bloomberg indicates that boutique apparel chain Francesca’s Holdings Corp. is preparing to file for
The Wall Street Journal reports that Dutch retail chain HEMA B.V. sought protection under chapter 15 of the United States Bankruptcy Code on August 19, 2020 in the United States Bankruptcy Court for the Southern District of New York while it seeks to complete a restructuring of approximately US$474 million of debt in the United
Brazil’s Odebrecht Files for Bankruptcy in U.S. [WSJ; August 26, 2019]
Ditech plan rejected as judge finds that company can’t sell mortgage-servicing rights and reverse-mortgage business free and clear of consumer claims [Bloomberg; August 28, 2019]