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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
Investors attracted by relative value versus loans but are not blind to risk
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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Chinese local government financing vehicle (LGFV) Zhangzhou Jiulongjiang Group Co reopened the post-summer bond market with a $500m deal, making its debut in dollars.
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Barcelona-headquartered paper company Lecta is appealing to bondholders as it tries to strengthen its capital structure. Its bonds are now trading in the 30s while the CVC-sponsored company has fully used its revolving credit facility and is running out of external sources of financing.
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JP Morgan has hired Nomura’s Ryan Dawson as a managing director in its leveraged finance origination team, covering sponsors in EMEA and sponsors and corporates in the UK.
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Amélie Négrier-Oyarzabal has joined Greenhill & Co as head of France, and will lead the opening of a Paris office.
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Cairn Capital has hired Nicolas Chalmers as its chief executive, marking the “next phase” in its development.
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Sterling has dropped to levels not seen since the 1980s, making UK assets seem cheap to international buyers. But that is unlikely to be the driver of the recent crop of UK M&A.