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Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.
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Vingroup Joint Stock Co has launched an up to $400m loan to the market.
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Sixth Street and Investec this week both said they had closed European direct lending funds.
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Investec has announced the first close of an inaugural direct lending fund targeting Western Europe’s small cap companies, which Investec believes are underserved by banks and other lenders.
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Banks have launched the funding for Ineos’s purchase of BP’s aromatics and acetyls business into syndication, with €2.6bn of new first lien term loan 'B' on offer, plus a package of amendments to Ineos Styrolution’s existing bond and loan debt.
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Alternative asset manager Tikehau Capital has hired a new chief operating officer for its private debt strategy, who will also be responsible for private debt investments in France.