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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
A slow destruction of misallocated investment is more likely than a sudden stop
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Orchard Global Asset Management has hired Rachit Prasad as a portfolio manager for its CLO team. Prasad will join after an 11 year stint as an ABS research analyst at Deutsche Bank. -
More managers are taking advantages of tighter spreads to refinance or reset older CLOs. Carlyle and KKR have lowered the liability costs of deals issued, respectively, in 2017 and 2019. As the cashflow distributions in July begin, the market will receive another infusion of deals as some CLOs, based on their indentures, are callable on their payment dates.
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German airline Deutsche Lufthansa sold €1bn of three and eight year senior unsecured bonds on Wednesday.
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Several Schuldschein issuers have more than tripled their initial targets for deals, with arrangers saying many have gone subject just days after launch. The deal outcomes show a chronic supply and demand imbalance, as the market comes to terms with a persistent drop in deal flow.
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Oriental Petrochemical (Taiwan) Co, a subsidiary of conglomerate Far Eastern Group, is planning a return to the loan market for a dual currency borrowing that will include a dollar portion for the first time.
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The European Commission launched on Tuesday a second big wave of regulation that will soon be controlling more aspects of sustainable finance more tightly. There is a tendency to think anything with the word “sustainable” attached to it is good. But capital markets specialists must ask themselves: will the regulations be helpful?
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