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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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Egyptian Refining Company (ERC) is close to signing a long-awaited $3.7bn project financing to upgrade its refinery in the Greater Cairo area, after the deal was on hold for almost 18 months.
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China Construction Bank has committed $20m to an outstanding loan from China Aviation Oil, boosting the deal to $145m after the jet fuel trader exercised an accordion feature.
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The eurozone debt crisis is not dampening the appetite of leveraged loan underwriters to bring new deals to market, according to a EuroWeek poll. But it should mean that leverage and documentation remain relatively conservative.
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Bahraini investment manager Investcorp is set to sign a refinancing loan for more than $500m by the end of June.
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German forklift truck maker Kion Group (B/B3) has asked its lenders to extend the maturities on its leveraged loans and allow it flexibility to repay its second lien loan in return for increased margins, having found the support of several lenders in discussions before the launch.
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Private equity firm EQT Partners has mandated Deutsche Bank, Goldman Sachs, JP Morgan and Morgan Stanley to underwrite around roughly €800m of senior loans to back its buyout of German bandage maker BSN Medical, while a club of investors has also provided a mezzanine facility of €400m to support the takeover.