First Data Corp., the credit-card processor owned by KKR & Co., and U.S. cable operator Cequel Communications LLC were among companies tapping the loan market to reduce interest rates as increasing demand for the debt pushes yields to the lowest level on record.
Laureate Education Inc. is asking a premium from lenders if they want to join a $310 million loan it’s seeking to refinance debt, while Pramerica Investment Management Ltd. sold the second collateralized loan obligation in Europe this year.
Charter Communications Inc. cut the rate it will pay on its term loan, while Crown Castle International Corp. is seeking to refinance borrowings. Bank of Japan’s easing measures will be supportive of collateralized loan obligation issuance, Morgan Stanley said.
Aabar Investments PJSC, a unit of Abu Dhabi’s International Petroleum Investment Co., signed a $2.5 billion loan to refinance a deal maturing next month as Blackstone Group LP teamed with State Street Corp. to form an exchange-traded fund for purchasing speculative-grade loans.
First Data Corp. , the payments processor controlled by KKR & Co., faces “generally neutral” impact from new U.S. rules that may cut debit-card transaction fees 84 percent, according to Credit Suisse Group AG.