Leveraged Loans

  • Details emerge on LMA's loan automation plans

    Details emerge on LMA's loan automation plans

    Some of the most commonly used syndicated loan documents will fall under the remit of the Loan Market Association's new automation platform, which is expected to be launched before the end of the year.

    27 Mar 2020
  • Wizard wheeze: leveraged investors worry about sponsor cash injections

    Wizard wheeze: leveraged investors worry about sponsor cash injections

    Merlin Entertainments, one of last year’s biggest take-privates, has some investors worried about whether it will seek new financing to get it through the coronavirus lockdowns that have shuttered the theme park business’s main sites. Any new financing could weaken the security package for existing lenders and bondholders — though liquidity to get through the lockdowns is essential, writes Owen Sanderson.

    26 Mar 2020
  • Schuldschein moves undercover as firms chase big buyers

    Schuldschein moves undercover as firms chase big buyers

    The Schuldschein market’s official lines of bookbuilding have been all but shut during the Covid-19 crisis, but sources have told GlobalCapital that several companies have discreetly approached larger lenders for club or bilateral deals.

    26 Mar 2020
  • Your country needs you, investment bankers

    Your country needs you, investment bankers

    The 2008 financial crisis forged a generation of investment bankers well versed in advising governments — and with many having returned to banking, they are likely to be in demand again. But history suggests banks will not be earning lucrative fees, writes David Rothnie.

    26 Mar 2020
  • FCA stands firm on Libor transition deadline

    FCA stands firm on Libor transition deadline

    After discussions with the Bank of England and the Sterling Risk-Free Reference Rates Working Group over the impact of Covid-19 on companies’ plans to transition from Libor, the UK’s Financial Conduct Authority said on Wednesday that the final deadline of the end of 2021 was immutable.

    25 Mar 2020
  • Blackstone's GSO raises huge European direct lending fund

    Blackstone's GSO raises huge European direct lending fund

    GSO Capital Partners, the credit unit of private equity firm Blackstone, has raised roughly $4.5bn for its second European direct lending fund, according to an SEC filing. But as the coronavirus pandemic wrecks corporate balance sheets, several sources are concerned with how European companies will fare.

    24 Mar 2020
  • Leveraged companies need help too

    Leveraged companies need help too

    Extraordinary support measures from central banks across the world include an element of corporate lending, but all the schemes announced so far target SMEs, and companies rated BBB- and above. That leaves a gaping hole in the rescue net, which the authorities must fill.

    24 Mar 2020
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