List Of Securities Shows $446 Million In Leveraged Loans For Sale

A number of banks are soliciting bids for just over $446 million of leveraged loan assets, according to one investor familiar with the list of securities.

The list, seen by Dow Jones Newswires, comprises 206 tranches of leveraged-loan debt from more than 150 U.S.- and European-based companies.

The identity of the seller is to "remain confidential and anonymous," according to the explanatory notes at the top of the list. As such, it wasn't immediately clear who the seller of the assets is, but indications are that the loans are offloaded by a bank that is stepping back from the leveraged-loan market, according to the investor.

The securities are mainly first- and second-lien term-loan debt from companies such as DirecTV Holdings LLC, U.K. Directories group Yell Group PLC (YELL.LN), Italian telecommunications company Wind Telecommunicazioni S.P.A and power company NRG Energy Inc (NRG). Other companies featured are Sabic Innovative Plastics Holding BV, Bankruptcy Management Solutions, Inc. and chemicals distribution company Brenntag Group. The biggest slug of debt up for grabs is $14 million from AES Corp (AES). There is also a $12 million portion of Spanish-language media company Univision Communications' term loan and around $9.9 million of debt from online trading company Ameritrade.

Accounts have until 11.30 a.m. (ET) on Oct. 21 to submit bids for the securities.

Leveraged-loan bid-list volumes total nearly $4.22 billion year-to-date, according to data from Standard & Poor's LCD. This figure includes the most recent $446 million list.

-Kate Haywood, Dow Jones Newswires; 212-416-2218; [e-mail]