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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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Invesco has changed the line-up of its fund managers across a number of fixed interest funds, with Paul Read, co-head of fixed interest, stepping down from several funds. -
More US CLO managers are growing their presence in Europe, enticed by a tighter market for the bonds, growing demand from investors and a more contained Covid-19 crisis compared with the US, sources tell GlobalCapital.
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Royal Vopak, the Dutch oil and gas storage company, has sold $500m-equivalent in US private placements.
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Drinks bottler Refresco is targeting a €400m term loan 'B' deal intended to finance acquisitions in Europe and the US.
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Several companies boasting Big Four accounting firms as auditors have emerged as fraudulent, leading many to wonder what value auditors bring to an investors' understanding of a company. The big issue is that auditors have little obligation to detect fraud at companies they audit, and neither it seems does anyone else. Until they do, investors need to stop believing a Big Four sign-off is a seal of approval. In fact, for a system supposedly built with its own reputation in mind, developed markets have offered investors very little protection.
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KKR bidco Planets UK has signed a £2.5bn syndicated loan to support a £4.2bn all-cash acquisition of UK waste management firm Viridor, according to sources familiar with the situation. Merger and acquisition activity is set for a revival in the second half of the year, as previously deferred deals are brought back to the fore and at-risk companies are forced to rethink strategy, bankers say.
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