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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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Investors in Nokia's debt and credit default swaps have welcomed the Finnish company's decision to sell its handset business to Microsoft and refocus the business on its recently rebranded Nokia Solutions & Networks business. -
Shuanghui International has signed its $4bn acquisition financing with eight banks, with a general launch scheduled for mid-September. But in the meantime, the lenders are speaking to at least two other Chinese banks to come onboard at the senior level.
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Russian telecoms firm Vimpelcom is negotiating a loan with banks to part-finance M&A activity in Italy.
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Around 20 banks have committed more than $800m to agribusiness Wii’s $1.5bn dual-tranche loan. Bankers on the deal have wrapped up syndication and are now considering raising the size to almost $2bn.
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Formosa Plastics Group is speaking to banks about a bridge loan of between $600m and $800m to fund a steel project, according to a banker familiar with the deal. If the funding comes to the market, it will be the Taiwanese company’s fourth loan in less than two months.
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The case for investing in the equity tranches of European or U.S. collateralized loan obligations is not compelling at the moment because returns do not sufficiently reward the risks involved, two veteran CLO equity investors told delegates at the Euromoney LevInvest European CLO Congress in London on Tuesday.
