Structured Bonds - All Articles

  • Intu to enter administration as lender talks collapse

    Intu Properties, the UK shopping centre owner, is set for collapse as it looks to call in administrators following failed discussions with lenders around debt standstills. Some fear the effects could ripple across the struggling retail sector.

    • 26 Jun 2020
  • Ardonagh raises largest ever unitranche in unique buyout package

    Irish insurer Ardonagh has refinanced its whole capital structure and funded the acquisitions of insurance brokers Arachas and Bravo with the largest ever unitranche loan from a group of direct lending funds, plus a $500m syndicated dollar PIK toggle note.

    • 23 Jun 2020
  • People moves in brief

    Deutsche gives Toomey position as head of new group — Gimpel leaves Citi, has fintech idea — Moelis hires Whelchel for private capital team

    • 18 Jun 2020
  • Pubco covenant troubles could be just the beginning

    UK pub companies with secured debt structures have moved swiftly to cut costs and secure covenant waivers, but longer-term social distancing and a slow reopening could push them into equity raises and debt restructurings, according to two specialists involved in many of the pub deals.

    • 18 Jun 2020
  • LGBTQIA+ job equality ruling could boost US economy

    Campaigners for equality for lesbian, gay and transgender people in the US hailed a historic victory on Monday, when the Supreme Court for the first time made it illegal throughout the country for employers to discriminate against staff on grounds of sexual or gender orientation.

    • 17 Jun 2020
  • Virus opens door to capital markets’ future: risk and control

    The coronavirus pandemic has catapulted capital markets forward in time. Things thought impossible have come about — above all, a sustained flow of credit through a harsh economic downturn. But are the markets heading for utopia or dystopia?

    • 15 Jun 2020
  • Student loan securitizations could offer template for UK SME rescue

    Struggling UK small and medium-sized enterprises could see their debts sold to insurance companies or other institutional investors in a scheme similar to that used to securitize student loans in the country, according to proposals floated by finance lobby group TheCityUK in a report published on Monday.

    • 09 Jun 2020
  • SRI bond frameworks could come after deals

    Participants in the sustainable bond market are considering allowing issuers to publish their sustainability frameworks after issuing bonds, instead of before. This would be a major change in market practice.

    • 08 Jun 2020
  • Virgin Media takes out old notes to prep ground for O2 merger

    Virgin Media is in the market with its third high yield deal in a week, which will clear the way for its merger with O2 by redeeming existing bonds with obstructive covenants in place preventing the telecoms group from reorganising its capital structure. That means a big payday for bondholders in the notes due 2022, who will be paid the make-whole premium for early redemption.

    • 08 Jun 2020