Crown mulls loan as market deteriorates

The logistics and moving company may turn to the loan market following the continued deterioration of the bond market.
Crown Worldwide, the logistics and moving company, is mulling over its next course of action after BNP Paribas and Standard Chartered reported investor feedback to the company on Friday.

ôInvestors like the credit but they are not willing to commit in these markets, especially after the disappointing pay-roll numbers out of the US on Friday which saw the bond market open still weaker this week,ö says a source close to the deal. ôTiming-wise, this isnÆt the best time to bring a deal to market, but itÆs up to the client to decide which way it wants to go.ö

The iTRAXX Asia ex-Japan high-yield index has widened to a new all-time high of 634bp, from Friday's...
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