Foncia repricing, A&O Hotels dividend
Investor support for leveraged loan deals where the issuer is only seeking to cut margins remains so strong that some borrowers, such as French real estate group Foncia, may do it twice this year.
Foncia presented lenders with a pure repricing of its seven year term loans ‘B’ on Tuesday. It is proposing a tightening of the margin from 350bp to 300bp-325bp.“Repricings are the story of the year,” said a leveraged finance analyst. “Margins keep tightening in Europe, to all ...
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