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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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A slump in syndicated loan activity in Asia has put pressure on banks to offer juicy terms to borrowers seeking leveraged deals, including lower pricing and weaker structures. But the dearth of issuance won’t last long, leaving just a short window for borrowers to take advantage of. -
Chinese sportswear manufacturer Xtep International Holdings has closed its refinancing loan at HK$1.8bn ($229.5m) with nine banks.
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Two near-investment grade industrials made a splash in the high yield bond market on Monday, with both Smurfit Kappa and Thyssenkrupp getting their order books oversubscribed multiple times.
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Companies could be stopped from picking their favourite jurisdiction for restructurings, if a crucial ruling over the fate of troubled heat exchanger firm Galapagos SA goes in favour of a group of high yield bondholders.
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Troubled airline Norwegian Air Shuttle has offered high yield bondholders security over its take-off and landing rights at London’s Gatwick Airport, in exchange for agreeing to extend the maturity of the debt.
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Swedish private equity firm EQT confirmed on Monday that it is seeking to list on the Nasdaq Stockholm, becoming the second issuer to announce it aims to test Europe’s IPO market this autumn.
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