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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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Jefferies has hired JP Morgan’s James Seagrave as managing director in its global financial sponsors investment banking group, expanding its private equity team in Europe. Seagrave will focus on UK financial sponsors and be based in London.
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Royal Bank of Scotland has moved Sarah Mackey from its DCM team to be head of EMEA financial sponsor coverage. She will replace Dan Haxby, who had held the position since 2008, on September 1.
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A €3bn facility for Germany’s BASF, which carries a margin of just 27.5bp, has been around twice subscribed in syndication. Commitments of €6bn have been pulled in for the deal, one of the tightest in the loan market since 2008, despite the volatility that has hit wider markets, and lenders’ will see their tickets scaled back.
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Bank of India was set to sign a $200m three year loan late on Tuesday, increasing the deal by $25m after getting good demand in syndication — despite the borrower cutting fees by 18bp compared to similar loan it closed last year.
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SABMiller has turned to its relationship banks for the debt financing backing its takeover offer of Australia’s Foster’s. The 12 lenders on the top of the brewing firm’s revolver signed in April have been invited to join the self-arranged loan, bankers familiar with the deal said.
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Citi Capital Advisors has acquired the management responsibilities four collateralized loan obligations valued at $2 billion from DiMaio Ahmad Capital.