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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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Leads have tightened pricing and increased the size of Casino’s maturity-pushing loan and bond refi, with investors keen to buy the company’s turnaround story and looking past the troubles of holding company Rallye, which needs to find a big slug of cash to pay bondholders in 2023. -
Mizuho has hired Robert Lepone as head of loan trading EMEA, a newly created job intended to expand the Japanese bank’s loan distribution capabilities.
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Jiangsu Zhongnan Construction Group Co raised $250m from a new money and exchange offer on Monday.
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Asian lenders have often balked at dividend recaps. They should reconsider.
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Crescent Capital has partially refinanced the first CLO to include an applicable margin reset (AMR) auction option in its documents, making use of the online process. More online repricings are expected to follow, as the market environment makes the refi process attractive and it can cut costs and administrative challenges for CLO managers.
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Gatwick Airport is marketing a holding company bond, raising funds to be used for general corporate purposes in the operating company. Unlike Heathrow, Gatwick had yet to access subordinated funding from outside its opco, instead relying on class A secured debt from within its ring-fenced Gatwick Funding vehicle.
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