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There is no crock of equity gold at the end of the rainbow
Partner has joined Clifford Chance from the newly merged rival magic circle law firm
MAG’s tightly priced bond adds credence to claims that Thames Water’s woes are isolated
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Greene King’s pub securitization Spirit Issuer is expected to default this year, after bondholders declined to waive potential covenant breaches in the same way they did for other pubcos, including the company’s larger, whole business securitization. This will give bondholders the right to enforce security, but it will test creditors’ desire to take over the assets outright. -
Schroders has closed a new private credit fund, which will use a mix of securitized bonds, warehouse lines, direct loans and other instruments to target dislocated opportunities as the impact of the Covid-19 pandemic plays out in credit markets.
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Goldman Sachs has appointed new heads of its UK investment banking and EMEA equity capital markets businesses.
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Debt purchasing firms Encore and Hoist launched new refinancing transactions on Wednesday, taking advantage of good market conditions to strengthen their capital structures ahead of a likely NPL flood next year.
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Volkswagen Finance (China) priced a nearly Rmb8bn ($1.2bn) auto loan asset-backed securities deal this week, the eleventh in its Driver China series.
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Thames Water’s holding company is preparing a sub-investment grade bond and tender offer to push out its 2022 maturity, launching the new offer as markets firmed up on Monday.
