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LevFin CLOs

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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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  • Czech energy firm EP Energy, a subsidiary of Energeticky A Prumsylovy Holding, is in the advanced stages of raising an unprecedented €1bn from its home market.
  • Turkey’s Akbank is hoping to sign its annual refinancing facility by March 20, with the deal once again drawing in a large syndicate.
  • Malaysia’s Employees Provident Fund (EPF), a state-owned pension fund, is hoping to close a £300m loan by the end of this week, after convincing five banks to help it raise money to buy property in London.
  • Marina Bay Sands, the Singapore hotel and casino resort developed by Las Vegas Sands, has approached lenders with a S$4.6bn ($3.64m) loan, looking to refinance a S$5.44bn deal it closed four years ago.
  • Hong Kong-listed Victory City International Holdings, a manufacturer of knitted fabric products, has closed syndication for a HK$1.388bn ($178.82m) loan — a big increase from the HK$900m it had planned when it first approached the market.
  • Richard Reilly, former co-head of securitization at White & Case, has joined DLA Piper’s global investment funds practice.