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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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Underwriting revenues fell for Credit Suisse in the second quarter, it said on Wednesday, although fixed income trading and sales was a bright spot in its results. -
China Aoyuan Group was back in the dollar market on Tuesday, adding another $250m to its 2023 notes.
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Dexin China Holdings Co found limited interest for its debut dollar bond, despite paying a generous yield to get the deal done.
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A refinancing package of €1.23bn has lifted some pressure off Swiss aviation services company Swissport and driven Moody’s to change its ratings outlook on the company from negative to stable. Parent HNA has had a fire sale of assets to combat a cash crunch, and a new portability clause is likely a sign of its desire to exit from the Swiss firm.
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US CLO managers priced three new deals totalling $1.21bn last Friday, bringing to a climax a week in which a total of $4.6bn in new paper hit the market.
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Cobham, a UK aerospace and defence supplier, could soon change owners as private equity firm Advent plans to finance its £4bn acquisition with £2.517bn equivalent of interim loans. The latest public-to-private buyout is on shaky ground, jolted by a looming bidding war, possible regulatory intervention and reluctant shareholders.
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