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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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Adani Transmission has priced a $310m US private placement, becoming the first Indian company to raise money in that market since 2007. Although some investors still feel scarred by an Indian incident a decade ago, many see this as the dawn of an Indian PP revival. -
BPHA, a housing association headquartered in Bedford, is looking to sell US private placements, according to several market sources, as private debt remains readily available for UK HAs.
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The first bond from the UK’s five year old Municipal Bonds Agency will be launched in the next week or two and, thanks to some tweaking of the agency's operating practices, more are set to follow, writes Lewis McLellan.
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UK soft drinks company Britvic has entered the US private placement (USPP) market via Rabobank and Santander, on the hunt for sterling debt. As the issuer is a regular and well-loved borrower among institutional investors, the transaction has been described by one banker as “as easy as they come.”
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Tikehau Capital has taken over a US high yield fund formerly managed by Semper Capital Management, bringing over the portfolio managers that run it as well. It is part of the firm’s plan to rebalance its business and boost its liquid strategies offering.
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The Loan Market Association is set to restart its Schuldschein working group in February, with a workstream addressing credit restructuring. This is an early sign that the market’s heavyweights are taking this issue — which has damaged the Schuldschein’s reputation in some quarters — seriously.
