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GC Asia
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Workspace launches US private placements
Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.
02.00 PM -
LSEG reveals new MTN platform
The London Stock Exchange Group has partnered with fintech firm Nivaura for the exchange's new platform, called Flow. LSEG hopes that its adoption of Nivaura’s general-purpose legal mark-up language (GLML) technology will help to establish it as the industry’s automation protocol of choice.
17 Sep 2020 -
SSD bankers push back against troubled borrowers
Schuldschein arranging banks have long claimed to be the market's gatekeepers as far as borrowers looking for access are concerned, rejecting lower quality credits to keep the standard high. As the market expanded in recent years and a richer variety of companies borrowed from it, this became a less convincing claim. But as the coronavirus pandemic rocks Europe, Schuldschein bankers say they have declined several requests from companies from risky sectors.
17 Sep 2020 -
Morningstar to sell PPs for first time
Morningstar, the US investment research firm, is marketing US private placements for the first time in its 26 year history, according to several sources familiar with the situation.
15 Sep 2020 -
Kingspan goes big in grand return to PPs
Irish insulation firm Kingspan has raised €750m-equivalent in US private placements, in its first green issue in the market.
14 Sep 2020 -
New lenders enter Schuldschein market
Several sources have told GlobalCapital that a clutch of new investors have entered the Schuldschein market, tempted by higher spreads brought on by the pandemic.
14 Sep 2020 -
ZF Friedrichshafen weighs up shift in funding away from Schuldschein
ZF Friedrichshafen, the German car parts maker, is considering moving its focus away from the Schuldshein market, where it is one of the biggest issuers, after finding success selling public bonds this week.
11 Sep 2020 -
People news in brief
Wartchow heads to Pemberton — Barclays names permanent equities heads — Bonilla joins Kartesia
10 Sep 2020 -
Pemberton hires Credit Suisse’s former EMEA head of high yield
Pemberton, the direct lender and asset manager part owned by Legal & General, has appointed Robert Wartchow as a portfolio manager and managing director.
09 Sep 2020 -
Schuldschein reverts to roots after Covid panic
The Schuldschein market, which has spent the last few years growing increasingly international compared to its domestic origins in Germany, has lost its adventurous streak due to the coronavirus pandemic. Forays into unknown territories with borrowers from new industries are being treated with trepidation and lenders are heading back to what they know best.
08 Sep 2020 -
Muzinich promotes Greil Castro to co-head of public markets
Tatjana Greil Castro has been promoted to co-head of public markets at Muzinich an investor in corporate credit.
04 Sep 2020 -
Schuldschein lenders sniff danger in auto sector
Once Schuldschein market darlings, auto parts suppliers are beginning to look to lenders like they may be in distress. Some fear a wave of credit restructurings on the horizon, when the market's lean documentation standards are likely to be tested.
03 Sep 2020 -
Internationals return to Schuldschein ranks
After a period of quiet, the Schuldschein market is creaking back into life. At least four international companies have entered the market in the past week on the hunt for new debt.
01 Sep 2020 -
UK universities look to PPs to bandage Covid wounds
Top tier UK universities are likely to issue public and private debt in the fourth quarter of this year, to fill a funding gap from collapsing summer revenues and dwindling numbers of international students. With operating conditions for the sector decidedly bleaker, many expect a clutch of lower ranked UK universities to go bust in the next few years.
28 Aug 2020 -
Baillie Gifford’s Monks Investment Trust sells private placements
The Monks Investment Trust, the UK listed investment trust managed by Baillie Gifford, has sold £100m of US private placements.
27 Aug 2020
