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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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The pricing on a debt package for the buyout of Intertrust has been reverse flexed, with the 450bp margin on its term loan ‘B’ being cited as a new benchmark for the market. But in a market where changes in margin are so correlated with the ebb and flow of supply, the very concept of a benchmark may now be outdated.
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Oaktree Capital Management has received €53m of financing for its acquisition of French waste water collection and treatment firm Evac in the form of a unitranche facility provided by Macquarie and Tikehau Investment Management.
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Dell, the US computer maker, has agreed to be sold to global technology investment firm Silver Lake in an MBO backed by Dell’s founder, chairman and CEO Michael Dell.
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Kingboard Chemical Holdings’ HK$4bn ($515.6m) loan has already received a good response, and a few more banks are likely to join as mandated lead arrangers this week, said a banker familiar with the deal.
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Bankers leading Power Finance Corp’s $250m four year loan have added two more banks at the senior level and will launch the deal into general syndication over the next two weeks.
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Russian oil firm Gazprom Neft is in discussion with banks for a loan of up to $1bn. The company has not yet made clear whether it will look to syndicate the deal or raise a club loan, said bankers.