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As funds swell, pressure to deploy rises and managers can stray from their expertise
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
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The struggling carmaker issued $150m of senior secured notes in a private placement priced at steep 12%, hiking up its leverage ratio. S&P showed no mercy and instantly cut Aston Martin’s credit rating to CCC+ from B-, leaving the firm on outlook negative. The company is betting its future on the risky launch of a family-friendly luxury SUV. -
National governments of the European Union have reached agreement on the law that will implement the Taxonomy of Sustainable Economic Activities, even though Germany, Austria, Luxembourg and Greece are unhappy that nuclear power has not been specifically excluded. There could be fights over that issue when the Parliament and Commission negotiate with the Council in a 'trilogue'.
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UK and European pension funds hunting for positive yields are increasingly looking to swap short to medium dated government bonds for riskier credits in high yield and structured finance.
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Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.
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Cambodia’s Prasac Microfinance Institution has closed its syndicated loan at a larger size of $180m.
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Bankers and investors were upbeat on upcoming deal flow in the leveraged loan market — despite corporate loan volumes being down almost by a third this year compared to last. The experts gathered at LMA’s Syndicated Loan Conference in London on Tuesday to debate the state of the loan market.
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