Loan issuance was down at €3B in January, while high yield issuance was steady at €7.4B. Secondary markets are up. Repricings are back on table, February’s tally the highest number of purely European repricings in any month on record. First new arbitrage CLO pricing in Europe since crisis in 2007.
Check out LCD's new, free web sites, LeveragedLoan.com and HighYieldBond.com
http://www.leveragedloan.com
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Better Email Marketing Strategy and Tips - An Astek Think-n-Drink PresentationAstek Consulting
Looking for a better email marketing strategy? It's the most effective form of digital marketing in terms of ROI, and Jenny Fukumoto of Ragan Communications and Sara Gorksy of Astek presented this to show best practices, tips, tactics and theories.
An Astek Academy Think-n-Drink Presentation #chiThinkDrink
Neer Info Solution is an HR consulting firm founded in 2005 with a vision to provide end-to-end human resource solutions. It offers a range of HR services including permanent staffing, recruitment process outsourcing, and complete recruitment assistance. The company has a network of recruiters across India allowing it to source quality passive candidates and offer fast turnaround times.
Este documento describe las características de las neoplasias benignas y malignas. Explica la nomenclatura y clasificación de diferentes tipos de tumores epiteliales y de tejido conjuntivo. También describe las características microscópicas de las células malignas y los factores relacionados con el desarrollo del cáncer como la edad, agentes virales, carcinógenos químicos y la herencia. Finalmente, resume los métodos de diagnóstico de las neoplasias como la biopsia, citología e inmunohistoqu
Shaking things Up - Kaizen in Action - Mark VeroneMark Verone
This document summarizes Mark Verone's experience implementing Kaizen, or continuous improvement, principles to streamline Orbitz Worldwide's billing and revenue recognition processes. The processes were highly manual, taking over 400 hours per month away from core work. Through applying Kaizen's focus on eliminating waste and non-value-added work, as well as testing improvements via pilots before full adoption, Orbitz was able to automate billing, eliminating redundant manual tasks and freeing up substantial time for other priorities. While it took two years to fully implement changes due to organizational disruptions, applying data-driven arguments for process improvements and quantifying time/cost savings helped achieve buy-in to ultimately solve the problems.
This document summarizes the financial and operating results of CEMAR and Light for the first quarter of 2009. Some key highlights include:
- Billed energy volume for CEMAR and Light increased 3.0% compared to the first quarter of 2008.
- CEMAR's energy losses decreased slightly to 28.5% while Light's losses increased to 20.8%.
- Consolidated net operating revenues grew 11.1% to R$622.6 million driven by increases at both CEMAR and Light.
- Consolidated EBITDA grew 15.7% and net income increased 18.7% after adjusting for non-recurring items.
- Investments grew 13.
Better Email Marketing Strategy and Tips - An Astek Think-n-Drink PresentationAstek Consulting
Looking for a better email marketing strategy? It's the most effective form of digital marketing in terms of ROI, and Jenny Fukumoto of Ragan Communications and Sara Gorksy of Astek presented this to show best practices, tips, tactics and theories.
An Astek Academy Think-n-Drink Presentation #chiThinkDrink
Neer Info Solution is an HR consulting firm founded in 2005 with a vision to provide end-to-end human resource solutions. It offers a range of HR services including permanent staffing, recruitment process outsourcing, and complete recruitment assistance. The company has a network of recruiters across India allowing it to source quality passive candidates and offer fast turnaround times.
Este documento describe las características de las neoplasias benignas y malignas. Explica la nomenclatura y clasificación de diferentes tipos de tumores epiteliales y de tejido conjuntivo. También describe las características microscópicas de las células malignas y los factores relacionados con el desarrollo del cáncer como la edad, agentes virales, carcinógenos químicos y la herencia. Finalmente, resume los métodos de diagnóstico de las neoplasias como la biopsia, citología e inmunohistoqu
Shaking things Up - Kaizen in Action - Mark VeroneMark Verone
This document summarizes Mark Verone's experience implementing Kaizen, or continuous improvement, principles to streamline Orbitz Worldwide's billing and revenue recognition processes. The processes were highly manual, taking over 400 hours per month away from core work. Through applying Kaizen's focus on eliminating waste and non-value-added work, as well as testing improvements via pilots before full adoption, Orbitz was able to automate billing, eliminating redundant manual tasks and freeing up substantial time for other priorities. While it took two years to fully implement changes due to organizational disruptions, applying data-driven arguments for process improvements and quantifying time/cost savings helped achieve buy-in to ultimately solve the problems.
This document summarizes the financial and operating results of CEMAR and Light for the first quarter of 2009. Some key highlights include:
- Billed energy volume for CEMAR and Light increased 3.0% compared to the first quarter of 2008.
- CEMAR's energy losses decreased slightly to 28.5% while Light's losses increased to 20.8%.
- Consolidated net operating revenues grew 11.1% to R$622.6 million driven by increases at both CEMAR and Light.
- Consolidated EBITDA grew 15.7% and net income increased 18.7% after adjusting for non-recurring items.
- Investments grew 13.
This short document contains an email address but no other text or context. It does not provide enough information to generate a multi-sentence summary.
This document summarizes the three Transformers movies. Transformers 1 introduces the Autobots and Decepticons coming to Earth. Sam helps the Autobots save the world. Transformers 2 has them looking for the matrix, their most powerful weapon. Transformers 3 has the Autobots and Sam saving Earth again, which has now become their home.
This document lists many physical constants used in mechanics, molecular physics, electricity and optics, magnetics, atomic and nuclear physics, and some off-system units of measurement. It includes constants like the speed of light, gravitational constant, Boltzmann's constant, elementary charge, mass of the electron, permeability of vacuum, Planck's constant, Bohr radius, and conversions between units like years, atmospheres, bars, and ergs. The constants provide fundamental information used across several fields of physics.
1. This document describes the story of a 40-year-old female patient, S.C., who experienced a major heart attack despite no prior history of heart disease. She was overweight, had high blood pressure and cholesterol, and was a long-time smoker.
2. S.C.'s heart attack prompted significant lifestyle changes, including quitting smoking, losing 45 pounds, exercising regularly, and improving her diet, which successfully managed her risk factors.
3. The document discusses how conditions like diabetes, high blood pressure, and high cholesterol often present no symptoms but significantly increase heart disease risk, especially in women. Maintaining healthy lifestyle habits and knowing personal health metrics can help reduce this risk.
Christmas in Albacete, Spain involves decorating Christmas trees and nativity scenes. Popular Christmas sweets include marzipan, turrón, polvorones, and mantecados. The Three Kings Cake is also enjoyed. The city of Albacete celebrates Christmas with tambourines and zambombas folk instruments. People dance in the streets during the holiday season.
This document contains an email address with no other context or information provided. The email address is ani4702@gmail.com. No other details are given in the single line document.
Minden, ami szép(10)+ani (nx power lite)VarganeAnny
This document contains an email address and a reference to a free stock photo website but no other substantive information. The email address is ani4702@gmail.com and the source of the image is listed as freewallpaperpoint.com. No other details are provided in the document.
GNS3 is a graphical network simulator that allows users to emulate complex networks on their Windows or Linux computer by running actual Cisco IOS images in a virtual environment. It provides a graphical interface for Dynagen, which runs on top of Dynamips - the core emulator program that allows IOS emulation. The document provides a quick start guide for installing and configuring GNS3 on Windows and Linux, including how to define IOS image files, start a router node, and find an optimal idlepc value to reduce CPU usage during emulation.
Simon Creedy is a graphic designer based in Sydney, Australia who has extensive experience in branding, website design, and print graphics. He offers logo design, branding, print materials, web design, and other graphic design services. Creedy aims to build strong client relationships through clear communication and ensuring client needs are met. His goal is to help businesses look their best through high-quality, custom graphic design work.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against developing mental illness and improve symptoms for those who already have a condition.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
This short document contains an email address but no other text or context. It does not provide enough information to generate a multi-sentence summary.
This document summarizes the three Transformers movies. Transformers 1 introduces the Autobots and Decepticons coming to Earth. Sam helps the Autobots save the world. Transformers 2 has them looking for the matrix, their most powerful weapon. Transformers 3 has the Autobots and Sam saving Earth again, which has now become their home.
This document lists many physical constants used in mechanics, molecular physics, electricity and optics, magnetics, atomic and nuclear physics, and some off-system units of measurement. It includes constants like the speed of light, gravitational constant, Boltzmann's constant, elementary charge, mass of the electron, permeability of vacuum, Planck's constant, Bohr radius, and conversions between units like years, atmospheres, bars, and ergs. The constants provide fundamental information used across several fields of physics.
1. This document describes the story of a 40-year-old female patient, S.C., who experienced a major heart attack despite no prior history of heart disease. She was overweight, had high blood pressure and cholesterol, and was a long-time smoker.
2. S.C.'s heart attack prompted significant lifestyle changes, including quitting smoking, losing 45 pounds, exercising regularly, and improving her diet, which successfully managed her risk factors.
3. The document discusses how conditions like diabetes, high blood pressure, and high cholesterol often present no symptoms but significantly increase heart disease risk, especially in women. Maintaining healthy lifestyle habits and knowing personal health metrics can help reduce this risk.
Christmas in Albacete, Spain involves decorating Christmas trees and nativity scenes. Popular Christmas sweets include marzipan, turrón, polvorones, and mantecados. The Three Kings Cake is also enjoyed. The city of Albacete celebrates Christmas with tambourines and zambombas folk instruments. People dance in the streets during the holiday season.
This document contains an email address with no other context or information provided. The email address is ani4702@gmail.com. No other details are given in the single line document.
Minden, ami szép(10)+ani (nx power lite)VarganeAnny
This document contains an email address and a reference to a free stock photo website but no other substantive information. The email address is ani4702@gmail.com and the source of the image is listed as freewallpaperpoint.com. No other details are provided in the document.
GNS3 is a graphical network simulator that allows users to emulate complex networks on their Windows or Linux computer by running actual Cisco IOS images in a virtual environment. It provides a graphical interface for Dynagen, which runs on top of Dynamips - the core emulator program that allows IOS emulation. The document provides a quick start guide for installing and configuring GNS3 on Windows and Linux, including how to define IOS image files, start a router node, and find an optimal idlepc value to reduce CPU usage during emulation.
Simon Creedy is a graphic designer based in Sydney, Australia who has extensive experience in branding, website design, and print graphics. He offers logo design, branding, print materials, web design, and other graphic design services. Creedy aims to build strong client relationships through clear communication and ensuring client needs are met. His goal is to help businesses look their best through high-quality, custom graphic design work.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against developing mental illness and improve symptoms for those who already have a condition.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
2. European Market Trends
Text
• Loan issuance was €3.03B in February 2013;
high yield issuance was €7.4B .
• Estimated outflows out of European HY funds was €220M for
the four weeks ending February 28th.
• Secondary markets were up:
loan markets went up 5 bps to finish the month at 99.47;
high yield markets were up 19 bps to finish the month at 102.3.
• The S&P European Leveraged Loan Index (ELLI) finished the month up 0.4%.
• Default rates were mixed -- default rates by principal amount rose;
default rate by issuer count fell.
3. European Loan Flow Name Prices
100
99
Text
97
96
94
93
91
2/11 4/11 6/11 8/11 10/11 12/11 2/12 4/12 6/12 8/12 10/12 12/12 2/13
. Source: LCD - Leveraged Commentary & Data
4. European HY Bond Flow Name Prices
106
102
Text
98
94
89
85
81
2/11 4/11 6/11 8/11 10/11 12/11 2/12 4/12 6/12 8/12 10/12 12/12 2/13
. Source: Bloomberg
5. ELLI Multi-Currency Loan Return
2.5%
February 2013: + 0.40%
Text January 2013: + 1.18%
Jan-Feb 2013: + 1.59%
Jan-Feb 2012: + 3.34%
1.9%
1.2%
0.6%
-0.1%
12/11 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/1211/1212/12 1/13 2/13
. Source: S&P European Leveraged Loan Index
6. Volume: New-issue Loans vs. HY Bonds
15
HY bonds
Text Loans
11
€billions
8
€7.4B
4
€3.03B
0
11/1112/11 1/12 2/12 3/12 4/12 5/12 6/12 7/12 8/12 9/12 10/1211/1212/12 1/13 2/13
. Source: LCD - Leveraged Commentary & Data
7. ELLI Default Rates – European Leveraged Loans
Default Rate by Principal Amount Default Rate by Issuer Count
16% 16%
13% 13%
10% 10%
6% Text
6%
3% 3%
0% 0%
2/09 2/10 2/11 12/11 2/13 2/09 2/10 12/11 2/12 2/13
. Source: LCD - Leveraged Commentary & Data
8. Themes to watch for
Text
• Repricings are back on table, as issuers take advantage of strong demand. February’s
tally was the highest number of purely European repricings in any month on record.
• Along with repricings, some sponsors are tabling dividend recap deals to take
advantage of investor demand.
• Still strong demand for high yield bonds.
• Bond for loan-take-outs will continue to keep pace as issuers address their maturity
concerns.
• Cairn priced its €300.5M CLO, the first new arbitrage CLO in Europe since
the crisis. There are signs about pricing new CLOs.
• There is renewed optimism about M&A.
9. Text
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