High demand helps companies to cut pricing

摘要

The US leveraged loan market has opened with a bang, allowing junk-rated companies such as food packaging company crown holdings to reduce pricing further amid strong demand for floating-rate assets. Ba2/BB rated Crown Holdings had an investor count of more than 250 for its US$2.08bn cross-border loan, sources said, allowing it to cut pricing to 200bp over Libor on the dollars and 237.5bp over Euribor on the euros, showing that borrowers still have the upper hand in early 2018.