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Deals, trends and research in structured finance and asset-backed securities for the week of Jan.29-Feb. 4
February 4
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A consensual deal cuts legal costs and hastens a Chapter 11 exit, but plans block possible restructuring proposals that can curb cash payouts to lower-ranking creditors.
February 3 -
AMC and American Airlines took advantage of surprise stock-price surges to cash out shares and raise liquidity for possible debt reduction — a massive stroke of good fortune for the companies as well as their creditors.
February 1
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Deals, trends and research in structured finance and asset-backed securities for the week of Jan.22-28
January 28
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Cheap funding costs have extended a lifeline to many troubled companies, slowing the pace of U.S. bankruptcy filings, but shops, offices and hotels have been particularly vulnerable to the pandemic this month.
January 27
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About $16 billion across 43 deals in both new-issue and refinancing has prompted analysts into making early revisions to raise their initial volume forecasts.
January 26
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More may be on the horizon as lenders lose patience with defaulting property owners.
January 19
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Distressed debt funds on average gained 11.4%, according to Hedge Fund Research Inc., compared to the riskiest corporate bonds rising 2.3%.
January 11 -
Although returns may be lower than in recent years, CLO securities (particularly the senior-rated tranches) remain very attractive compared to alternative investments.
January 8
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Energy, retail and consumer services companies led a total of 244 filings, according to data compiled by Bloomberg.
January 5
