LevFin - All Articles

  • Law firm hires expert on Libor transition

    Shearman & Sterling has hired Mark Chorazak as partner in its global financial institutions advisory and financial regulatory practice in New York.

    • 02 Jun 2020
  • Investcorp raises Mount Row fund to scoop up bargain loans

    Investcorp said on Tuesday it had raised a new €318m loan fund to acquire "high performing loans at discounted levels" from large cap issuers in the European market. The fund will be leveraged and aim for returns in the mid teens.

    • 02 Jun 2020
  • UniCredit appoints new head of non-IG syndicate

    UniCredit has appointed a new head of non-investment grade syndicate, after Carlo Fontana was promoted to global head of syndicate in March.

    • 02 Jun 2020
  • Covid-19 can’t excuse corporate mismanagement

    For a failing business, the coronavirus has offered the perfect excuse. With so many well-managed companies forced to close their doors during lockdowns, record unemployment across several countries and a severe global recession on the cards, who can blame a management team or its backers when a corporate is on the edge of collapse?

    • 02 Jun 2020
  • European CLOs at risk of switching to semi-annual payments

    European corporates are asking lenders to switch their loans to semi-annual interest payments, in some cases, which could feed through to CLO coupons as well.

    • 02 Jun 2020
  • Cheesed off: Telepizza bonds binned on restructuring talks

    Telepizza bonds sold off by around 30 points on Monday on news that the company had appointed restructuring advisers, available liquidity was sharply lower than the market had expected, and the company needed around €100m of new money to stay in business — slightly less than the €130m dividend it paid last year after KKR took the Spanish pizza chain private.

    • 02 Jun 2020
  • Zhongyu Gas returns for $300m refi

    China’s Zhongyu Gas Holdings has launched a $300m refinancing loan into general syndication.

    • 02 Jun 2020
  • Lao MoF returns for $50m loan

    The Ministry of Finance of the Lao PDR has returned to the loan market for a new financing of $50m.

    • 02 Jun 2020
  • CLO tightening puts market on track to return to pre-pandemic levels

    Spreads on triple-A CLOs are tightening, with investors predicting a snap back to pre-pandemic levels this summer.

    • 01 Jun 2020
  • KKR, Cinven, Providence launch first post-crisis take-private

    KKR, Cinven and Providence Private Equity have launched the first post-Covid take-private LBO attempt, targeting Spanish telecommunications company MasMovil with a €3bn takeover offer at €22.50 a share, giving the company an enterprise value of around €5bn. Barclays, BNP Paribas and Morgan Stanley have underwritten the financing for the buyout.

    • 01 Jun 2020
  • Sichuan Languang nabs $250m in Friday outing

    Chinese real estate developer Sichuan Languang Development Co rushed into the market last Friday with a dollar deal, to avoid any market fallout over the weekend from rising tensions between the US and the Mainland.

    • 01 Jun 2020