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A slow destruction of misallocated investment is more likely than a sudden stop
LBO financing includes $5.75bn term loan to be priced early next week
Investors eye 2028, 2031, 2032 as big years for loan maturities
Even leveraged deals still being underwritten, though banks are selective
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The sterling syndicated loan market hosted two environmentally friendly trades this week, with UK power generation company Drax and renewables fund Octopus Renewables Infrastructure signing facilities. -
An accounting standard was launched on Wednesday that could prove a major step forward in how banks and investors calculate their contributions to climate change, and their progress towards net zero emissions.
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Symon Drake-Brockman, the founder and managing partner of European direct lender Pemberton Asset Management, thinks that the US direct lending market has matured to such an extent that further growth is tricky, whereas Europe still has fruitful opportunities ahead.
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When the Covid-19 crisis hit in the spring, it looked like a golden opportunity for private credit funds. But the window shut as quickly as it opened, preventing the hungry funds from deploying much of their dry powder. But their moment may have finally arrived.
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Blackstone is working on the financing for a potential acquisition of India’s Piramal Glass. Although the deal is still in its early stages, international banks are facing competition from cheap onshore liquidity. Pan Yue reports.
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Ben Smyth, the whistleblower and former debt capital markets banker who took UBS to court, has been hired as an investment officer by the litigation funder Therium Capital.
