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◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
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
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It’s amazing how quickly the conversation around Avis has changed over the last few months. In April, investors worried that Avis would follow Hertz, its car rental rival, into bankruptcy by the end of 2020. But Avis’s performance in the second quarter and its recent success in the ABS market suggest it is in a much better position than its competitors to weather the recession. -
Metals and mining firm Vedanta Resources’ $1.4bn bond this week took it one step closer to the planned delisting of a subsidiary. But the company took an unusual approach to the deal — a rare bond outing for a take-private in Asia — by offering investors a secured and callable amortising bond. Morgan Davis reports.
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Chinese real estate developer Shui On Land sealed a slightly larger than anticipated $500m bond on Monday, despite issuing a profit warning earlier this month.
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Tianneng Power International, a Hong Kong-listed Chinese company focused on making environmentally friendly power batteries, is seeking a debut $100m loan.
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Triple-A spreads on new CLO issues hit 130bp last week — their tightest level since the beginning of the pandemic — as GSO priced a $300.15m static CLO arranged by Barclays.
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Consciousness of environmental, social and governance factors is snowballing among private debt and equity investors, prompting them to seek new answers to the conundrum of how to obtain adequate ESG information on private companies. Providers are trying to meet the demand, including with innovative products.
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