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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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Hong Kong oil trading business Winson Group is paying up for an up to $180m secured revolving credit facility.
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Italmatch, a chemical additives company owned by Bain Capital, has announced a €200m add-on to its €410m senior secured floating rate note, to repay the acquisition debt it took on to buy BWA Water Additives.
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A study released by Fitch Ratings on Thursday showed that first-lien leverage ratios rose by a half-multiple between 2017 and 2018, a factor which the ratings agency said would reduce recovery rates in the event of a distress scenario.
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The creditworthiness of corporate borrowers in advanced economies has deteriorated while the volume of debt and financial risk taking has risen, the International Monetary Fund has warned. It also flagged up concerns about the sovereign-bank nexus in the eurozone and about market conditions for low income and frontier countries.
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European leveraged finance loan investors are undersupplied. But this is unlikely to last for too long, as several buyouts are making their way towards the market. Banks are lining up financings to support auctions for Nestlé Skin Health, VFS Global and Elior Concessions, while the takeovers of Scout24 and RPC are nearing.
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Diamond hires ex-colleague at Atlas — Salorio leaves DCM head vacancy at Soc Gen — Forese to retire from Citi
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