In the U.S., senior secured loans have traditionally been viewed as an alternative to high-yield.
Creditors: A majority of the Senior Secured Lenders now support the transaction with Chrysler.
The only one you might argue is not better off is the senior secured.
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These figures were released on a preliminary basis in order to facilitate communication with investors surrounding the proposed senior secured loan financing transaction.
In seeking to achieve its investment objective, the Fund will invest in senior secured loans, high yield corporate bonds and investment grade-rated collateralized loan obligations.
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Daniel Lamy of JPMorgan reckons 23% of the market for European senior secured loans will mature by the end of 2012 (and 44% by end-2013).
During the first quarter, managers began to report that they were finding it easier to get traction when touting the leveraged loan product, as end-investors seeking yield are increasingly drawn to senior secured debt.
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Critics of the government's plan to reorganize Chrysler say it rewards junior debt holders at the expense of senior secured creditors, some of which have agreed to take 30 cents on the dollar for their investment.
Given the greater liquidity in the high yield market, some arrangers are a lot more comfortable underwriting senior secured bridge loans to high yield and then flexing and structuring the capital structure based on market demand.
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If Clearwire is unable to repay the PIK Debenture during this 30 day period, it would be entitled to convert the principal amount and accrued interest on the PIK Debenture into a note on terms comparable to the 2015 Senior Secured Notes previously repaid, having a maturity of December 1, 2015.
Since subordinated debt has less protection than senior, secured debt in bankruptcy proceedings, Triangle is able to charge higher, junk-bond rates to borrowers.
Citi's new senior-secured loan would mature on Aug. 1, 2002.
France seems to have secured two senior NATO posts: one at the allied command in Norfolk, Virginia, and another at the regional command in Lisbon.
Unions did win some special favours: when Chrysler was divided among its creditors, for example, a union health fund did far better than secured bondholders whose claims should have been senior.
She subsequently secured a consolation prize in the form of a succession of senior positions in the Department of Energy.
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Minutes later Britain secured their first score when Chris Joynt and Keiron Cunningham combined to release Senior who touched down in the left corner.
Today, two years later, Oshkosh is losing money on every truck it delivers to the Army, and senior management admits it had hoped the Army would modify the contract terms once the award was secured.
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