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Long seen as adversaries, banks and private credit lenders are getting used to working together
Fahy will also lead asset-based finance origination
Direct lending default rates tick higher amid notable distressed situations
A Swiss borrower has already closed books and Austria's Egger will soon
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German dairy group Müller has sold €250m of US private placements across five, seven and 10 years maturities.
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Aerospace and defence supplier Meggitt has sold $300m US private placements at three and five years, according to market sources, with leverage step ups to further protect investors.
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Quadgas, a gas asset and infrastructure investment consortium that sits above UK utility Cadent Gas, has sold $600m-equivalent of US private placements, in the first UK utility deal for more than six months.
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Puma, the sportswear maker, launched Schuldscheine on Monday tied to its sustainability performance.
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Brussels Airport is looking to sell US private placements, according to market sources. It is the first European airport to try its luck in the market since the coronavirus reached Europe.
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Rising coronavirus cases and circling uncertainty around the upcoming US election is driving the Swedish krona market towards higher rated, domestic names.