US LevFin Wrap — Windows and doors of opportunity


Market Wrap

US LevFin Wrap — Windows and doors of opportunity

David Bell's avatar
William Hoffman's avatar
  1. David Bell
  2. +William Hoffman
8 min read

Leveraged credit markets are ending the week with some positive momentum on Friday, with drive-by high yield deals from Bombardier and Hilton Worldwide, the expected pricing of the bond portion of Truist Insurance’s LBO financing, and the announcement of a highly anticipated refinancing effort from Herbalife.

The strong end to the week builds on the successful pricing of $2.35bn of acquisition financing for building product company MITER (aka MI Windows and Doors) on Thursday, as a jump in rates abated after Wednesday’s FOMC decision and a surprise rate cut from the Swiss national bank.

Truist Insurance’s financing package for Stone Point and CD&R’s LBO is expected to be wrapped up today, with Morgan Stanley leading a $3bn seven-year non-call three SSN with price talk of 7.25% area.

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