Leveraged Loans

  • BlackRock’s Fink backs net zero, leaves responsibility to clients

    BlackRock’s Fink backs net zero, leaves responsibility to clients

    BlackRock wants to move a long way towards catching up with leading investors in its response to climate change, its CEO Larry Fink indicated in his annual letter to chief executives on Tuesday. BlackRock stopped short of setting a net zero carbon emissions target for its $8.7tr of assets under management, or committing to swift decarbonisation. But it did publish a ‘net zero commitment’ saying it would “support the goal of net zero emissions by 2050 or sooner”.

    26 Jan 2021
  • Will direct lenders prove to be wolves in sheep’s clothing?

    Will direct lenders prove to be wolves in sheep’s clothing?

    Direct lenders and debt funds have always pitched themselves as closer partners for businesses than banks, bondholders, or other institutional lenders. When the going gets tough, they can move faster to waive covenants and offer new money than a less concentrated creditor group. But this so called partnership also puts them in pole position to take the keys when things go wrong — which we may see happen this year.

    26 Jan 2021
  • Klöckner Pentaplast takes ESG margin route for refi loan

    Klöckner Pentaplast takes ESG margin route for refi loan

    Plastics packaging firm Klöckner Pentaplast has included an ESG margin ratchet in the loan leg of its refinancing, which was announced on Monday, a feature set to become increasingly common in European leveraged credit this year. Unlike previous deals with this structure, KP will take this structure to the dollar market, as well as euros.

    25 Jan 2021
  • G.Network logs into £220m loan

    G.Network logs into £220m loan

    G.Network Communications, the London-centric broadband provider, has signed loans totalling £229m, with the company planning a £1bn investment programme into the UK capital.

    25 Jan 2021
  • InfraVia injects SDG into equity bridge

    InfraVia injects SDG into equity bridge

    Infravia Capital Partners, the French private equity firm, has amended an equity bridge facility to make it align with the UN’s Sustainable Development Goals. Margins are tied to the ESG performance of its fund’s investments, following the lead of EQT and Eurazeo.

    22 Jan 2021
  • Santander pins corporate finance strategy on ESG

    Santander pins corporate finance strategy on ESG

    Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.

    21 Jan 2021
  • RBC promotes from within as Uden retires

    RBC promotes from within as Uden retires

    RBC Capital Markets has reorganised its European equity capital markets and corporate broking business following the decision of Darrell Uden to step down at the end of this month.

    21 Jan 2021
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