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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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UK-based debt purchaser Cabot Credit Management has extended its maturity profile with an opportunistic refinancing of its 2021 high yield notes, with solid demand for the deal allowing it to redeem a sterling tranche as well. -
Bayer’s sale of its animal health unit ought to help a leveraged loan market where supply is still running short of last year’s total — and help loan investors compensate for M&A deals that have dropped out of this year’s pipeline.
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Cairn Capital will be able to distribute its multi-asset credit offering more widely, through the establishment of a joint UCITS (undertakings for collective investment in transferable securities) fund with its owner Mediobanca.
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Mizuho hires for new CLO role — Boskamp to join Crédit Agricole for corporate DCM — JP Morgan shakes up SSA team
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DNB Markets has issued Norske Skog’s comeback bond, printing a €125m floater at 600bp over Euribor to fund repayment of shareholder loans from Oceanwood Capital Management, the fund which bought the firm out of its insolvency in late 2017. It also plans to take out a securitization facility lent by Oceanwood.
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Sub-investment grade markets are starting to follow high grade in using ESG structures, with a high yield issue from microfinance firm Bayport and a leveraged loan from Spanish telco MasMovil set to show whether the changes will help issuers cut financing costs.
