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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 substantial and growing proportion of asset managers are asking big oil companies to realign their businesses with the Paris Agreement by moving away from fossil fuels, a survey released on Monday has found. But only a few have set deadlines or thought about what to do if the oil companies fail to comply. -
Chinese property developer Yango Group Co priced a $150m tap of a recent two year bond on Thursday at a level that 62.5bp inside where the original bond landed less than a month ago.
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Profit Reach International, an investment vehicle owned by Chinese billionaire Shen Guojun, has closed a $550m refinancing, attracting 12 participants during syndication.
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The Alternative Reference Rates Committee (ARRC) issued recommendations for Libor replacement at the end of April, indicating that it believes the market should effectively self-regulate when it comes to picking a new benchmark for floating rate debt contracts.
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Tesco issued a new £400m six year bond, to fund a tender for bonds from eight older issues, and saw blow-out demand of £3.3bn, as the UK supermarket heads back towards investment grade status.
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Eir, the Irish telecoms company, has won strong demand and tight pricing for its combined bond and loan deal, allowing it to increase the size by another €100m — and pay out a larger dividend to its owner, groups controlled by French billionaire Xavier Niel. One of these groups, Iliad, has just emerged from a costly fight for rights to the 5G mobile spectrum in Italy, leading it to consider asset sales and other routes to raise cash.
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