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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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Standard Profil, the auto supplier which makes sealing for cars, was in the bond market on Tuesday looking to sell €275m of five year notes.
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Swedish property website Hemnet has succeeded in a difficult IPO market, its shares rising 50% on its first day of trading in Stockholm.
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Birkenstock’s acquisition financing package saw changes to the documentation during syndication, announced on Monday. While the deal comes with an aggressive covenant package, the amendments do little to smooth the edges, instead raising the possibility that a rapid flotation of the business could see bondholders repaid inside the non-call period.
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A wave of Russian equity capital markets activity has broken this week, taking advantage of a rise in optimism that geopolitical tensions between Russia and the US are decreasing.
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Chinese state-owned company Genertec Universal Medical Group has returned to the loan market to syndicate a $700m-equivalent deal.
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South Africa's Investec has launched a proprietary secondary loan trading desk in New York, having recruited a senior trader to lead it.
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