Private Equity - All Articles

  • United Group scores deal size boost in driveby

    Balkan telecoms and cable company United Group slipped into the high yield market Monday to launch a drive-by bond as it released its earnings results, seizing on strong market conditions to repay its revolving credit facility and part-fund the purchase of Greece’s Forthnet.

    • 24 Nov 2020
  • Infopro preps cap stack clean-up with new bond

    Infopro, a business information company owned by Towerbrook, is offering a new bond this week to clean up some coronavirus pandemic-driven features of its capital structure, including paying back state-guaranteed debt and its drawn revolver. The new bond will also push out debt maturities through by repaying a 2022 bond.

    • 17 Nov 2020
  • No sweat: banks exit long-held PureGym bridge in perfect market window

    Market euphoria following news of Pfizer’s potential Covid vaccine created a perfect window for lead banks Barclays and Jefferies to sell out of a bridge loan for UK fitness chain PureGym, which they had held since underwriting it in January — one of the last pre-Covid acquisition loans yet to come to market.

    • 12 Nov 2020
  • Corporate disclosure shouldn’t be outsourced to stock markets

    UK chancellor Rishi Sunak’s announcement that large UK companies, whether listed or private, would need to make climate-related disclosures, was a step towards an important principle — that corporate transparency is a public good, and should be driven by governments, not listing authorities.

    • 10 Nov 2020
  • Pfizer helps PureGym banks out of a hole

    Market euphoria following news of Pfizer’s potential Covid-19 vaccine has helped underwriting banks dodge a likely loss on one of the hardest bridge loans to shift all year, with the bond now guided six points higher than at launch and nearly three times covered.

    • 10 Nov 2020
  • US election certainty prompts PureGym bridge launch

    Strong markets on Monday morning helped Barclays and Jefferies launch the long-awaited bridge financing for PureGym’s takeover of Fitness World, one of the last pre-Covid facilities yet to come out in the capital markets.

    • 09 Nov 2020