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GE HealthCare Technologies Inc. has signed a $1 billion, seven-year agreement with Sutter Health to provide AI-powered medical technology and software upgrades. The partnership, named Care Alliance, aims to modernize technology across Sutter Health's 300-plus facilities in California, benefiting patients, physicians, and clinicians. This deal reflects GE HealthCare's shift towards providing a variety of healthcare solutions beyond imaging, with a focus on AI and data management. Sutter Health's expansion plans will be supported by this partnership, addressing the national clinician shortage and improving diagnostic scan results through AI technology. [Extracted from the article]

A group of banks, led by Deutsche Bank AG, has launched a $3.3 billion loan package to finance the buyout of R1 RCM Inc., a hospital billing and payment company. The package includes a $3.1 billion term loan and a $200 million delayed-draw term loan. This transaction is the second-largest leveraged loan of the year for a buyout, and it is expected to close by the end of the year. Additionally, 18 leveraged-loan transactions were launched on the same day, making it the busiest day since June 3. [Extracted from the article]

Banks, led by UBS Group AG, have sold $1 billion of leveraged loans to finance Vista Equity Partners' acquisition of software company Jaggaer. The debt package includes first- and second-lien term loans, as well as a $150 million revolving credit facility. The first-lien tranche, priced at 3.25 percentage points above the Secured Overnight Financing Rate, was issued at 99.75 cents on the dollar. This deal is part of a recent increase in acquisition-related leveraged loans, which have been more prevalent since September. [Extracted from the article]

Tempur Sealy International Inc. has sold a $1.6 billion leveraged loan to help finance its acquisition of Mattress Firm Group Inc., despite the Federal Trade Commission's attempt to block the deal. The loan, led by Wells Fargo & Co., has a seven-year term and was priced at 99.5 cents on the dollar with a margin of 2.5 percentage points above the Secured Overnight Financing Rate. Moody's Ratings assigned a Ba1 rating to the loan, while S&P Global Ratings gave it a BBB- grade. The acquisition is facing opposition due to concerns about competition and potential price increases for customers. [Extracted from the article]

Private equity firms are increasingly turning to debt offerings to pay out investors due to a lack of merger and acquisition (M&A) activity and limited options for generating returns. These transactions, known as dividend recapitalizations, involve companies increasing their borrowings to distribute cash to investors. Debt investors are willing to finance these deals to lock in high yields, but there are risks involved, such as the increased likelihood of companies failing to pay or refinance debt obligations. US companies have taken out a record $70.2 billion of leveraged loans with dividend recaps this year. [Extracted from the article]

Bruce Richards, CEO of Marathon Asset Management, believes that credit markets are attractive as the Federal Reserve lowers interest rates. He suggests that investors should "buy all credit" due to signs of a relatively strong US economy, such as 3% GDP growth in the second quarter. With lower rates, money market funds have lower yields, incentivizing investors to move their money into higher-yielding assets like credit. Richards also predicts that lower rates will benefit companies with higher debt loads by reducing their borrowing costs and enabling more buyouts, which can create opportunities in private credit lending. [Extracted from the article]

According to a report by Fitch Ratings, the private credit default rate stood at 5% in August. The report analyzed nearly 1,200 firms that received private credit financing and found that 39 of them defaulted from January to August. The default rate has been difficult to measure due to the opacity of private credit, but concerns have been raised about rising defaults and their potential impact on lenders. Health care and technology companies were the main drivers of defaults, with labor issues and high operational costs negatively impacting free cash flow for health care firms. [Extracted from the article]

Windstream Holdings Inc. has sold a $1.3 billion loan and bond package to refinance its existing debt. The deal includes a $500 million seven-year term loan and $800 million of seven-year senior secured first-lien notes. The loan was sold at a discounted price of 99.5 cents on the dollar, with an interest rate of 4.75 percentage points above the Secured Overnight Financing Rate. The bonds were sold with a yield of 8.25%. The proceeds will be used to refinance existing loans and for general corporate purposes. This debt issuance is part of a larger trend of companies refinancing and repricing their debt in the current market. [Extracted from the article]

Wayfair Inc., an online furniture retailer, has sold $800 million of bonds in its high-yield market debut. The funds from the bond offering will be used to refinance upcoming debt maturities. The five-year senior secured notes have a coupon of 7.25% and are callable in two years. Wayfair has about $870 million of convertible debt due by the end of next year. The bond sale received over $7 billion of orders. S&P Global Ratings assigned Wayfair a B+ issuer rating and a BB issue-level rating. The junk bond market has been active recently due to strong investor demand and market stability ahead of the US presidential election. [Extracted from the article]

Wayfair, an online furniture retailer, plans to borrow $700 million from the high-yield bond market to refinance its existing debts. The company will offer senior secured notes due in 2029, with Goldman Sachs Group Inc. serving as the lead bookrunner. Wayfair is seeking this financing opportunity to take advantage of falling interest rates and avoid potential volatility associated with the upcoming US elections. This marks Wayfair's first foray into the high-yield bond market. [Extracted from the article]

J. Crew, the clothing retailer known for controversial financial maneuvers, has priced a $450 million leveraged loan to refinance debt. This is the company's first such deal in several years and suggests some forgiveness from investors. The loan was priced at six percentage points above the Secured Overnight Financing Rate and was issued at a discounted price of 98.25 cents on the dollar. The deal includes a "blocker" that restricts J. Crew from transferring certain assets to secure new financing. J. Crew filed for Chapter 11 bankruptcy in May 2020 and emerged with new ownership and less debt. [Extracted from the article]

A $1.4 billion leveraged-loan package has been priced to fund KKR & Co.'s buyout of money manager Janney Montgomery Scott. The margin for the deal is 3.25 percentage points over the Secured Overnight Financing Rate, with the potential for reduction if certain conditions are met. Investor-friendly protections have also been added. This transaction is the first of many expected acquisition-related financings for buyouts agreed to earlier this year. KKR is also in the process of completing several other buyouts, including Instructure Holdings Inc. More than $60 billion of loan launches have occurred since Labor Day, with an increase in acquisition-related deals. In August, only $28 billion of leveraged loans priced, the lowest amount since July 2023 and the first year-over-year decline in 16 months. [Extracted from the article]

RBC Capital Markets has launched a $1.76 billion leveraged loan to support the planned buyout of Envestnet Inc., a wealth-management software company. The loan package includes a seven-year term loan and an eight-year, $375 million privately placed second lien term loan. The deal is expected to close in the fourth quarter and includes investments from BlackRock Inc., Fidelity Investments, Franklin Templeton, and State Street Global Advisors. The leveraged-loan market is predicted to see increased activity in the near-term for acquisition-related financings. [Extracted from the article]

Focus Financial Partners Inc. has priced $4.35 billion of leveraged loans and junk bonds, a month after postponing a planned loan deal due to market volatility. The financing structure was revised, with loans reduced by $300 million to $3.35 billion and the bond sale increased by the same amount to $1 billion. The proceeds will be used to refinance debt and pay a dividend to Focus Financial's owners. Private equity firms Clayton, Dubilier & Rice and Stone Point Capital acquired Focus Financial last year. Debt markets are becoming more receptive to riskier deals, including dividends and leveraged buyouts, ahead of the US elections. [Extracted from the article]

Formula 1 has priced a $2.55 billion loan package to help finance the acquisition of motorcycle racing association MotoGP World Championship by owner Liberty Media Corp. The loan includes an $850 million leveraged loan for the purchase and a $1.7 billion term loan refinancing. The loans were issued at par and priced two percentage points above the Secured Overnight Financing Rate. The new loan matures in September 2031, and the existing one was repriced last year. The acquisition of MotoGP is expected to close at the end of the year and is being funded by a combination of cash and shares. [Extracted from the article]

Snack producer Shearer's Foods, owned by Fiesta Purchaser Inc., has priced a $450 million bond at a yield of 9.625%, which is lower than expected. The bond issuance is intended to fund a distribution to private equity owner Clayton Dubilier & Rice. This offering is the first high-yield deal in the US this week and comes after a surge of financings for lower-rated firms. The bond has been given a CCC+ grade by S&P Global Ratings, which will increase Shearer's debt-to-Ebitda ratio. [Extracted from the article]

Formula 1 is seeking to refinance a $1.7 billion loan and raise $850 million for its parent company's acquisition of the MotoGP World Championship. The refinancing plan has resulted in lender commitments being due on September 10th. The loan to be refinanced would be extended to September 2031. This move follows a trend of firms refinancing or repricing debt as financing costs have dropped. [Extracted from the article]

Focus Financial Partners has relaunched a $3.65 billion leveraged loan package that was previously pulled due to market volatility. The deal, led by Royal Bank of Canada, consists of a $3.3 billion term loan and a $325 million delayed-draw term loan. The proceeds will be used to refinance debt and pay a shareholder distribution for Focus Financial, a wealth management firm. This relaunch comes as companies are rushing to sell bonds and loans ahead of the US presidential election. The pricing on the relaunched deal is being discussed at 3 to 3.25 percentage points over the benchmark rate. [Extracted from the article]

TransDigm Group Inc. is planning to offer $3 billion in new debt to provide a special cash dividend to shareholders, potentially reaching $4.5 billion. The package includes a high-yield bond and a leveraged loan to fund a common-stock special dividend. Goldman Sachs Group Inc. is leading both debt sales. TransDigm has a history of using debt-funded special dividends and has seen positive stock performance as a result. This debt offering is part of a larger trend of debt offerings in the market. [Extracted from the article]

A total of $2.05 billion in leveraged loans have been launched to finance the acquisition of educational software company Instructure Holdings Co. The financing includes a $1.685 billion first-lien term loan B and a $365 million second-lien term loan, with tenors of seven and eight years respectively. Morgan Stanley and KKR Capital Markets are leading the tranches. The buyout, valued at $4.8 billion including debt, is expected to be completed this year. This increase in leveraged buyout financings is occurring ahead of the US elections, with an estimated $55 billion to $65 billion of junk bonds and leveraged loans expected to be sold in September. Refinancings and repricings have been dominant in the leveraged-loan market this year. [Extracted from the article]

Deutsche Bank AG is set to lead a $4.325 billion bond-and-loan offering to finance the buyouts of two casino-equipment firms. The buyouts were initially planned to be a merger between Everi Holdings Inc. and the gaming and digital operations of International Game Technology Plc, but Apollo Global Management Inc. made a $6.3 billion bid. The financing commitment from Deutsche Bank and Macquarie Capital will support Apollo's purchase. The planned high-yield bond and leveraged loan could be launched anytime until September 2025, when the takeovers are expected to be completed. [Extracted from the article]

EchoStar Corp., the parent company of Dish Network Corp., may need to sell more bonds backed by its wireless spectrum in order to extend maturities and improve liquidity. The company has struggled to transition from pay television to wireless services, accumulating significant debt in the process. EchoStar could sell up to $3 billion of airwaves-backed bonds to raise cash for a $2 billion note due in November. However, the company's cash on hand has decreased, and it has been in discussions to raise additional capital but cannot guarantee success. If EchoStar and Dish decide to sell debt, investors may require high coupons. [Extracted from the article]

A group of banks, led by Jefferies Financial Group Inc., has made changes to the terms of a proposed $870 million leveraged loan for M2S Group Intermediate Holdings Inc. The loan is intended to fund an acquisition by the label and packaging maker and refinance debt. The revised terms include a higher margin and a lower offer price. This adjustment comes after a period of market turmoil that affected leveraged loans. The deadline for commitments on the loan has been extended, and additional deal terms have been added. Representatives for the involved parties did not provide comments. [Extracted from the article]

Prison-food vendor TKC Holdings Inc. has repriced a $500 million loan as investors become more hesitant to fund companies that profit from mass incarceration. The firm, owned by private equity firm HIG Capital, lowered the interest rate on the loan by 50 basis points. This comes as the prison industry faces increasing backlash, with other companies in the sector also tapping the debt market. TKC Holdings is one of the largest suppliers of commissary, food, and telephone services to the prison and corrections industry. [Extracted from the article]

According to a research note from JPMorgan Chase & Co., buying US corporate bonds when the market weakens has historically been profitable about 70% of the time. The strategists analyzed selloffs in the JPMorgan US Liquid Index and found that buying at the widest point resulted in an average tightening of about 46 basis points over the following three months. However, there were instances where the strategy did not work, highlighting the unpredictability of the market. The analysis is more useful for historical context rather than as a trading strategy. [Extracted from the article]

JetBlue Airways Corp. is launching a $2.75 billion bond-and-loan sale backed by its loyalty program to raise reserves and fund general corporate purposes. However, both Moody's Ratings and S&P Global Ratings downgraded the airline to one notch above triple C levels, which could limit the airline's ability to sell riskier debt to collateralized loan obligations. JetBlue plans to sell at least $400 million of five-year convertible notes to repurchase some of its convertibles due in 2026. The airline is also looking to sell $1.5 billion of seven-year bonds callable in three years and a $1.25 billion five-year term loan. JetBlue's loyalty program, which represents about half of its $11 billion unencumbered assets, is being used as collateral. The airline is focusing on leisure customers in specific regions and has made cost-cutting measures to improve profitability. [Extracted from the article]

Prison-food vendor TKC Holdings Inc., owned by private equity firm HIG Capital, is seeking to lower the interest rate on a $500 million loan as investors become more hesitant to fund companies involved in mass incarceration. TKC is one of the largest suppliers of commissary, food, and telephone services to the prison and corrections industry. This move comes as the prison industry faces increasing backlash and scrutiny, with other companies in the sector also tapping the debt market. TKC previously struggled to attract investors in a leveraged loan deal in 2021 due to environmental, social, and governance concerns. [Extracted from the article]

JetBlue Airways Corp. has started a $2.75 billion bond-and-loan sale supported by its loyalty program in order to raise reserves and fund general corporate purposes. However, Moody's Ratings downgraded the airline's credit rating further into junk territory, stating that it will take several years for the carrier to restore operating profit and cash flow to levels that would significantly improve its credit metrics. JetBlue plans to sell $1.5 billion of seven-year bonds callable in three years and a $1.25 billion five-year term loan. The airline also intends to sell at least $400 million of five-year convertible notes to repurchase some of its convertibles due in 2026. [Extracted from the article]

JetBlue Airways Corp. is starting a $2.75 billion bond-and-loan sale backed by its loyalty program in order to raise reserves and fund general corporate purposes. The company plans to sell $1.5 billion of seven-year bonds callable in three years and a $1.25 billion five-year term loan. JetBlue also intends to sell at least $400 million of five-year convertible notes to repurchase some of its convertibles due in 2026. Using a loyalty program as collateral is a common strategy for airlines, and JetBlue's loyalty program represents about half of its $11 billion of unencumbered assets. [Extracted from the article]

Global Aircraft Leasing Co. has raised $1.1 billion in the junk-bond market to refinance debt that is due next month. The senior secured bonds have a unique three-year structure and can be repaid after one-and-a-half years. The bonds were priced at a yield of 8.75%, lower than earlier discussions. The proceeds, along with $990 million of shareholder equity, will be used to refinance senior toggle notes that mature in September. Global Aircraft Leasing is a unit of Beijing-based Bohai Leasing Co. [Extracted from the article]

Lumen Technologies Inc., a telecommunications company, has seen a surge in its stock and debt prices due to increased demand for its services as a result of the artificial intelligence (AI) boom. The company recently announced that it has secured $5 billion in new business and is in talks for another $7 billion in sales driven by AI demand. This positive development comes after Lumen underwent a controversial restructuring earlier this year to address its debt load. However, some analysts caution that investors should remain skeptical, as revenue growth is not expected until 2027. [Extracted from the article]

US leveraged loan issuance is reaching new highs during the summer season, with several new deals being launched. Some of these deals are supporting leveraged buyouts, while others are funding acquisitions. Market experts believe that the market will remain busy in the coming weeks, as borrowers take advantage of the resilient and strong market conditions. The high-yield bond market is also experiencing favorable conditions, with stable prices and attractive returns. Investors are particularly interested in high yield as they anticipate a potential second term for Donald Trump and the benefits it may bring for domestic manufacturers. [Extracted from the article]

Leveraged loan issuance is reaching new summer highs as borrowers take advantage of a resilient market and low financing costs. Several leveraged loan and high-yield bond deals were launched on Monday, with some transactions supporting leveraged buyouts and acquisitions. Experts predict that issuance trends will continue to strengthen in the coming weeks. The high-yield bond market has seen attractive returns this year, and investors are drawn to this asset class in anticipation of a potential second term for Donald Trump. Economic data indicating slowing inflation has also raised hopes for a future interest rate cut by the Federal Reserve. [Extracted from the article]

Healthcare companies, including Kaiser Permanente, have been sharing customer data with big tech companies without patients' knowledge or consent. A Bloomberg News analysis found that online trackers from companies like Facebook, Adobe, and Quantum Metric were present on the websites of major health insurance, hospital, and lab companies, potentially exposing sensitive personal information. Privacy advocates warn that these trackers could expose intimate details of people's lives to advertisers and data brokers. Federal regulators have been trying to address this issue, but their efforts have faced challenges in court. Some healthcare companies have removed trackers from their websites in response to increased pressure. [Extracted from the article]

Health-care companies, including Kaiser Permanente, have been sharing patients' private information with tech giants without their knowledge or consent. A Bloomberg News analysis found that online trackers from companies like Facebook, Adobe, and Quantum Metric were present on the websites of major health-care companies, potentially accessing sensitive personal data. Privacy advocates warn that these trackers could expose intimate details of people's lives to advertisers and data brokers. Federal regulators have been attempting to regulate the collection of personal data by health websites, but their efforts have faced challenges in court. [Extracted from the article]

A Colorado dairy worker has tested positive for bird flu, making it the fourth case in the US. The worker experienced symptoms similar to previous cases in Michigan and Texas and was treated with an antiviral. The worker had been exposed to an infected cow and is being monitored. While the outbreak has affected over 130 dairy herds in 12 states, the risk to the general public is low. The CDC advises dairy workers to wear protective equipment when working with cattle. [Extracted from the article]

US scientists are facing challenges in tracking bird flu, hindering the development of a vaccine to prevent its spread among humans. While the risk to the general public remains low, experts are concerned about the effectiveness of available vaccines if the virus becomes more dangerous. The lack of clear data on the circulating viral strain and the difficulty in conducting testing on farms without support from state authorities and farm owners are major obstacles. Efforts are being made to boost surveillance and develop new vaccines, including mRNA-based options. [Extracted from the article]

The number of uninsured Americans has decreased by about a quarter from 2019 to 2023, according to a survey by the US National Center for Health Statistics. In 2023, there were 25 million uninsured Americans, down from 33.2 million in 2019. The decline in uninsured children was also observed, from 5.1% in 2019 to 3.9% in 2023. The survey also found that people without health insurance tend to be lower-income families, with disparities in racial and ethnic groups. Hispanic adults had the highest percentage of uninsured individuals, while non-Hispanic Asian adults had the lowest. [Extracted from the article]

Fragments of the H5N1 bird flu virus have been found in Austin's sewage, far from any dairy farms, prompting researchers to search for the source. The virus could have come from infected farm animals, wild birds, dumped milk, or even unreported human cases. Health officials are concerned about the spread of the virus, as it has been reported in 90 cattle herds nationwide and has the potential for cattle-to-human transmission. Testing for the virus has been challenging, as farms and dairy workers are reluctant to test due to the risk of lost production or income. The Texas Wastewater Environmental Biomonitoring network is comparing genetic material found in sewage with samples from poultry, cows, and milk to determine the source of the virus. There are no known permitted dairy farms in Austin, but backyard animals and raw or commercial milk are possible sources. The virus is likely spreading in cattle through contaminated equipment and clothing, and raw milk continues to be a point of exposure. The majority of the US milk supply comes from farms employing migrant laborers, who may hesitate to seek medical care when ill, making it difficult to determine if there are more human cases on farms. The Centers for Disease Control and Prevention is recommending that local health officials extend testing for influenza A, including H5, through the summer to better understand the spread of the virus. Each state is creating its own monitoring efforts, leading to a patchwork of data that concerns health officials. [Extracted from the article]

An FDA advisory panel has determined that the benefits of Eli Lilly & Co.'s drug for Alzheimer's, donanemab, outweigh its risks. The panel unanimously voted that the drug helps patients in the early stages of the disease. If approved by the FDA, donanemab would compete with Biogen Inc. and Eisai Co.'s Leqembi, which was cleared for use in the US last year. Donanemab and Leqembi both target the amyloid protein, which is believed to contribute to the progression of Alzheimer's. However, donanemab's study excluded patients with low levels of another disease-linked protein, raising questions about its potential use. The FDA has faced criticism for its approach to Alzheimer's treatments, and some of its scientific advisers opposed the approval of Biogen's Aduhelm. Donanemab's path to market has been delayed, including an FDA rejection in 2023. The FDA has also raised safety concerns about donanemab's side effects, such as brain swelling and bleeding. Despite this, sales of Alzheimer's drugs are expected to grow significantly, with analysts projecting them to reach $13 billion by 2030. [Extracted from the article]

A man in Mexico has died after contracting a strain of bird flu that has not been confirmed in humans before, according to the World Health Organization (WHO). The virus, known as H5N2, was detected in a 59-year-old patient who had been hospitalized in Mexico City. The man had no history of exposure to poultry or other animals, raising questions about how he was exposed to the virus. The current risk to the general public is low, as no further cases have been reported. Researchers have identified people with antibodies that could signal prior infections, but more surveillance is needed to understand the source of the virus. [Extracted from the article]

A recent decision by a federal panel to reject an MDMA-based therapy for post-traumatic stress disorder (PTSD) has highlighted flaws in the way regulators handle psychedelic drugs. The US Food and Drug Administration (FDA) convened a committee of outside experts to review the treatment, and they raised concerns about the study design approved by the FDA. The panel's criticism has called into question the agency's credibility and its readiness to approve any psychedelic drugs in the near future. The setback has also raised uncertainty about the approval of psychedelics and has led to a decline in the stock prices of companies developing psychedelic drugs for medical purposes. [Extracted from the article]

A recent decision by a federal panel to reject an MDMA-based therapy for post-traumatic stress disorder (PTSD) has highlighted flaws in the FDA's handling of psychedelic drugs. The committee of outside experts criticized the study design approved by the FDA, raising concerns about the agency's credibility and its readiness to approve psychedelic drugs in the future. The panel also expressed concerns about incomplete data, limited information on adverse events, and alleged clinical trial misconduct. The setback has caused uncertainty around the approval of psychedelics and led to a decline in the stock prices of companies developing psychedelic drugs. [Extracted from the article]

US regulatory advisers have voted against recommending the use of the psychedelic drug MDMA to treat post-traumatic stress disorder (PTSD). The advisers cited flaws in the data provided by developer Lykos Therapeutics Inc., stating that the drug's effectiveness was not proven and that a safety program would not adequately protect patients. The FDA will make a final decision on whether to approve the medication in the coming weeks. The negative vote has raised concerns about the design of the clinical trials, potential cardiac side effects, and the risk of increased recreational use of MDMA if approved. [Extracted from the article]

Superyachts, which are luxury vessels over 30 meters in length, are experiencing a surge in popularity among the world's wealthiest individuals. However, these extravagant boats are also contributing to significant greenhouse gas emissions and other forms of environmental pollution. The concentration of wealth among the ultra-rich has led to a divide in per-capita emissions, with the wealthiest 10% responsible for half of the world's carbon dioxide emissions. Superyachts are the largest source of greenhouse gas emissions for the ultra-rich, emitting almost 285,000 tons of CO2 annually. They also contribute to wastewater, noise and light pollution, and particulate matter in exhaust. The impact of superyachts on the environment has led some to label them as a form of "ecocide," or the willful destruction of nature. Efforts are being made to develop more sustainable superyachts, but the industry is primarily driven by luxury and emotional appeal rather than climate concerns. [Extracted from the article]

The psychedelic drug MDMA, also known as ecstasy or molly, did not receive support from US regulatory advisers for its use in treating post-traumatic stress disorder (PTSD). The advisers voted that the developer's data did not demonstrate the drug's effectiveness and that a safety program would not adequately protect patients. Concerns were raised about the design and conduct of the trials, potential harm to vulnerable patients, cardiac side effects, and increased recreational use if approved. The FDA has been under pressure to approve treatments for PTSD, which affects millions of Americans. [Extracted from the article]