Half of bond issuance used to refinance loans, says Barcap
Barcap analysts reported in their research on Friday (12 June) that nearly half of the $53 billion in bond issuance this year has been used to take out loans.

Pfizer completes debt offer
Pfizer announced yesterday that it has successfully completed its debt offering

Lanxess bond/CDS basis still attractive, says BNP
Lanxess bond/CDS basis still attractive, says BNP

BNP maintains hold recommendation on cement supplier
BNP maintains hold recommendation on cement supplier

Visteon files for chapter 11 bankruptcy
Visteon files for chapter 11 bankruptcy

NAB facing AUD 200 million class action, reports the Age
Plaintiff law firm Maurice Blackburn is on track to launch an AUD 200 million class action against National Australia Bank over an alleged delay in writing down AUD 1.2 billion portfolio of CDOs

Yoghurt maker to cut debt with rights issue
European dairy products firm Danone has announced that it plans to raise around €3 billion through a rights issue

Canadian media group obtains lifeline
Canwest Global Communications obtained new credit lines of $175 million on Wednesday.

Alltel repayment helps Barclays trim LBO exposure
Repayment of a loan by Alltel reduced Barclays Bank’s exposure to hung LBO loans to the tune of £3 billion ($4.6 billion), according to the bank’s quarterly earnings announcement today

Law firm appoints CLO specialist as partner
Law firm Ashurst has promoted David Quirolo to partner in its securities and structured finance practice in London

Advisory firm makes structured credit hire
Advisory firm and asset manager hires managing director to join the structured credit team, according to website  

Correlated scenario increases HY default range, says Barcap
Barcap analysts contended in their Friday research that when a 30% correlation assumption is taken into account, the fundamental range of defaults on the three-year HY.12 index increases.

Condo developer files for chapter 11
Minnesota-based real estate developer Opus South filed for chapter 11 bankruptcy in the US bankruptcy court for the district of Delaware yesterday.

Sports equipment maker offers private exchange
Sports equipment maker Head announced today that its subsidiary, HTM, is holding a private exchange offer.

40 defaults needed to hit LCDX12 super-senior, says JP Morgan
According to JP Morgan's credit strategy report released on 17 April, supersenior tranches in the new LCDX has similar subordination as the CDX.IG supersenior (at 30-100%) and the CDX.HY supersenior tranche (at 35-100%).

Goldman Sachs recommends Euro bond basket
In recent research, Goldman Sachs credit strategists recommend buying a basket of European corporate bonds.