Leveraged Loans - All Articles


  • Outlook brightens for UK PLC, but Brexit will bite soon

    There are fundamental reasons for UK assets to be revalued upwards, analysts believe. The powerful majority achieved by Boris Johnson's Conservatives tilts the UK towards a Trump-like market-friendly, fiscally generous patch. But the reality of Brexit cannot be ignored for long.

    • 13 Dec 2019
  • China Biologic seeks financing for take-private

    Asian leveraged finance bankers are having a busy year-end, with a couple of Chinese companies coming to the loan market for funds to support their acquisitions.

    • 13 Dec 2019
  • Germany disappoints levfin market as volumes slump

    Volumes in European leveraged finance took a dive in 2019, leaving leveraged credit investors struggling to find value. A string of take-private attempts, especially in Germany, had lenders and banker salivating, but fell apart before coming to market

    • 13 Dec 2019
  • As US banks’ shadow lengthens, Europeans plan their fight back

    Each year brings another retreat for European investment banks, as their seemingly invincible US competitors edge further into the European market. While the Europeans are far from capitulating, the pressure is relentless. As Jasper Cox reports, they are trying to redefine success by concentrating on the markets and segments where they are strongest

    • 13 Dec 2019
  • Sponsors try to tame net short activists with covenant magic

    Lawyers in the US have had a busy 2019 drawing up tough documentation to protect borrowers and sponsors from CDS investors — net short activists — trying to get their say on the future of a company. With these provisions spreading to Europe, 2020 could be an even busier year

    • 13 Dec 2019
  • CS optimistic on tech, healthcare, M&A

    Credit Suisse expects to make a pre-tax loss in its investment banking and capital markets (IBCM) division this year, it said at an investor day on Wednesday. But it pointed to a strong pipeline for 2020.

    • 12 Dec 2019
  • Dongying metal companies suspend $300m borrowing

    Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have stopped the syndication of a $300m loan.

    • 12 Dec 2019
  • Volatile UK politics worry M&A and PE executives

    Increasingly divisive and unpredictable UK politics is threatening the favourable conditions on which private equity firms and the leveraged finance industry have relied during the post-crisis years. Most levfin bankers and PE partners breathed a great sigh of relief on Friday morning, when the risk of a Jeremy Corbyn-led government dissipated and no deal Brexit became far-fetched — but uncertainty over Brexit remains. Karoliina Liimatainen reports.

    • 11 Dec 2019
  • France blocks Taxonomy law at last moment

    On Wednesday, just as the European Commission launched its European Green Deal to move Europe to a carbon-neutral and environmentally friendly future, France led a revolt against the Taxonomy which was the centrepiece of the EC's Sustainable Finance Action Plan.

    • 11 Dec 2019
  • European Green Deal calls for ‘massive investment’, financial reforms

    The European Commission launched its European Green Deal on Wednesday, calling for “massive public investment” to tackle climate and environmental challenges which it calls “this generation’s defining task”.

    • 11 Dec 2019
  • Corporate bond market sweats as Labour gains ahead of UK election

    Jeremy Corbyn’s Labour Party has gained on its political rivals in the latest polls, a day before the UK's general election, leading to jitters in the corporate bond market.

    • 11 Dec 2019
  • Barclays corporate broking boss departs

    Kunal Gandhi, the head of corporate broking at Barclays, has left the bank, GlobalCapital understands.

    • 10 Dec 2019
  • The Hut Group prices its first ever term loan

    Sprawling e-commerce company The Hut Group completed a €600m term loan 'B' deal on Tuesday, changing its capital structure. The privately held company — touted as one of the few UK tech unicorns — has expansion ambitions in both online stores and web services, but is also making risky excursions into real estate.

    • 10 Dec 2019
  • MUFG hires Barclays’ Ferrario in financials push

    Matteo Ferrario is joining MUFG from Barclays, where he led the asset finance origination unit. He will be reunited with John Winter, who joined the Japanese bank earlier this year and will be his boss.

    • 10 Dec 2019
  • Dongying metal companies return for annual borrowing

    Dongying Fangyuan Nonferrous Metals and Dongying Lufang Metals Material have returned to the offshore market for a new $300m loan.

    • 10 Dec 2019
  • Singapore’s Hoi Hup closes debut green loan

    Singapore property developer Hoi Hup Realty has received its debut green loan of S$332.5m ($244.5m), which it will use to partially finance its acquisition of a hotel in the southeast Asian country.

    • 10 Dec 2019
  • Jiangxi Copper scores $700m loan for FQM buy

    Three Chinese banks have provided Jiangxi Copper Company with a $700m loan to support its acquisition of Canada’s First Quantum Minerals (FQM).

    • 10 Dec 2019
  • H&H increases refi loan size to $675m

    Health and Happiness International Holdings, a China-based supplier of paediatric nutritional and baby care products, has increased the size of its loan to $675m on strong demand.

    • 10 Dec 2019
  • Aditya Birla Finance increases loan to $105m

    India’s Aditya Birla Finance (ABF) has closed its second offshore borrowing this year with three lenders.

    • 09 Dec 2019
  • Thaco closes debut borrowing with 10 banks

    Vietnamese car manufacturer Truong Hai Auto Corp has closed its debut offshore borrowing, increasing the size of the loan to $210m.

    • 06 Dec 2019
  • Houlihan’s European expansion rolls on

    Houlihan Lokey’s European corporate finance land grab has made its fifth acquisition since 2014, writes David Rothnie, at a time when the fluctuations of the credit cycle may be about to lead to more restructurings.

    • 05 Dec 2019
  • People moves in brief

    Giancarlo heads to private sector — Barclays structurer goes to buy side — Danske reorganises DCM

    • 05 Dec 2019
  • Intu the mire as distressed buyers circle UK property co

    GlobalCapital understands distressed debt buyers are seeking advice on how to target debt issued by intu Properties, especially its 2022 convertible bonds, now trading below 70, as the shopping centre company reels from the wave of restructurings and rent reductions by some of UK’s largest retailers.

    • 05 Dec 2019
  • BRI Finance debuts with $100m three year loan

    BRI Multifinance Indonesia (BRI Finance) is tapping the offshore loan market for an up to $100m borrowing.

    • 05 Dec 2019
  • Commercial banks lead highly levered LGC financing

    Commercial banks are in the driving seat for the highly levered financing of Cinven and Astorg’s purchase of testing business LGC Group. Regulatory issues are said to have kept some US banks away from the deal, but others question whether a large revolver commitment had more of an impact.

    • 04 Dec 2019
  • Loans' Libor problems rumble on

    The syndicated loan market’s shift from Libor to risk-free rates has come under further scrutiny. Law firm Dentons released a report on Wednesday that highlights significant parts of the changeover that remain unresolved.

    • 04 Dec 2019
  • Obituary: David Pepper, 1968-2019 — Loan market mourns the ‘King of Turkey’

    Polite, sincere, with a swift wit, David Pepper had a huge presence in Europe's syndicated loan market.

    • 03 Dec 2019