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Margins widen as lenders weigh up AI disruption to portfolio companies
◆ What strikes on energy infrastructure in the Middle East mean for emerging market bonds ◆ Why issuing in dollars has become so dicey for supranationals and agencies ◆ Europe’s advantage in the private credit meltdown
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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No two crises are the same, and to expect financial instruments to behave in the same way in each one would be unfair and naïve. But having proved their mettle in the 2008 crisis, the Schuldschein and USPP markets seemed well placed to thrive in 2020. Not so. Instead, it was the turn of direct lending to shine. Silas Brown reports. -
Cheesemaker Groupe Bel’s landmark US private placement under French law was funded this month. The company has sampled all the major sources of investment grade private capital in the recent past, having issued euro PPs and Schuldscheine before its new US PP.
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Sonae, the Portuguese conglomerate, has raised €150m with debt linked to it putting women in senior positions.
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Credit Suisse's investment bank is well placed for where the market is heading after the coronavirus pandemic, it said on Tuesday at an investor day. Its new global trading solutions (GTS) business unit may be key to future revenue streams.
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Engineering equipment group Dürr has raised its third ESG-linked Schuldschein, raising €200m towards the redemption of its €300m 2.875% April 2021 bond. The company opted for the private market alternative, after pulling a contemplated €250m bond issue in early October.
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Debt collector Lowell said on Friday that it had issued a private placement of high yield bonds to raise £117.5m-equivalent, taking advantage of strong market conditions to further shore up liquidity following its October refi.
