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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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Europe’s high grade corporate bond market saw an abundance of mandates on Tuesday, suggesting that the bullish hopes from some corners of the banking world for May’s primary market might be fulfilled. -
EQT has launched the €1.525bn loan leg of the buy-out funding for its purchase of Cerba Healthcare, a France-based chain of medical laboratories, indicating that the flow of acquisition deals is still running fast, with multibillion deals including Birkenstock and Lonza Specialty Ingredients closing last week, and G4S slated for this week.
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Apollo subsidiary Redding Ridge has boosted its CLO platform, hiring Patrick McCarthy from JP Morgan, and Andrew Croshaw from law firm Cadwalader.
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Taiwan’s World Peace Industries Group has returned to loans bankers for a NT$18bn-equivalent ($645m) refinancing package. The fundraising includes a commercial paper guarantee tranche that has seen some changes as a result of scrutiny from the regulator.
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Indonesian textile manufacturer Sri Rejeki Isman (Sritex) has seen its dollar bonds fall to new lows in the secondary market, as investors grapple with the company's missed debt payment.
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New issue CLOs are increasingly selling equity to multiple buyers, leaving no single investor with a majority position — signalling an end to the difficulties of last year, which saw managers without their own equity or committed partners struggle to come to market.
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