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Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
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Meriem Smida and Christine Coudray have been given new coverage jobs at Natixis, as global head of financial sponsors coverage and global head of banks and international public sector (BIPS) coverage respectively. -
Bonds sold on Monday by Chinese conglomerate Dalian Wanda Group Co and property developer Logan Group Co have underperformed in the secondary market.
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Faced with a difficult leveraged loan market and volatility in CLO debt spreads, managers through the Covid crisis have often shortened the duration or split their warehouses to deal with the stress brought on by the pandemic, according to a study from Maples Group.
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Fair Oaks Capital has adopted an unusual ‘print and sprint’ approach to its third European CLO, mandating Barclays to launch the €350m deal entirely without a pre-existing warehouse.
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Dutch DIY retailer Maxeda unveiled a refinancing on Monday morning which will test the market’s appetite for taking out triple-C rated bonds at tighter levels, with a €400m offering to redeem its existing €475m 6.125% 2022s.
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Goldman Sachs has appointed Christopher Droege and Chris Emmerson as co-heads of cross markets and sponsor M&A for Europe, the Middle East and Africa.
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