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Investors eye 2028, 2031, 2032 as big years for loan maturities
Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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US alternative asset manager Ares has closed an €11bn European direct lending fund, the largest of its kind.
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Artemis Growth Partners, an ESG-focused investment platform dedicated to cannabis, has hired JP Morgan's E. Stanton McLean, a managing director in the US bank's leveraged finance business.
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Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.
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BNP Paribas has hired Boris Funke as head of leveraged finance capital markets in Germany, giving him responsibility for expanding the bank's sponsored and corporate sub-investment grade franchise in the region.
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Commodity trader Trafigura has closed a $203.5m US private placement. It is the largest sustainability-linked issue on record, according to GlobalCapital analysis, and signals the PP market is taking ESG financing more seriously.
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Chinese state-owned company Genertec Universal Medical Group has returned to the loan market to syndicate a $700m-equivalent deal.