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Record fundraising in 2025 has left private lenders fighting for deals
Best deals, banks, investors, advisers, law firms and tech providers of 2025
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UK hospitality companies have been avid users of the US private placement market in the past, but since the coronavirus pandemic began, their businesses have been up-ended, with pubs subject to curfews, social distancing and closures. Fortunately, US PP investors have largely followed bank lenders in opting for leniency, waiving covenants or switching to monitoring minimum levels of liquidity. One firm even managed to raise new debt this summer. -
The coronavirus pandemic has subjected the European leveraged loan market, where ‘cov-lite’ documents reign supreme, to a brutal test. The early results are positive.
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Ion Investment Group is preparing to combine its Dealogic and Mergermarket units under a single corporate entity, Ion Analytics, and refinance the group’s expensive private debt raised last year with a cheaper, broadly syndicated loan package across dollars and euros. A strong performance over the last year should encourage investors to look past the group’s previous struggles with access to the public markets.
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Metals and mining company Vedanta Resources has returned a $1.75bn loan and redeemed a $1.4bn bond after its plan to delist its Indian subsidiary failed to attract enough support.
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Chinese property developer Country Garden has closed a $1.5bn-equivalent dual currency loan, attracting seven participants during syndication.
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Leveraged finance bankers coping with a slump in deal flow in Asia this year are gearing up for a bumper start to 2021, as a return of liquidity and growing interest from institutional investors for loans set the stage for a market revival. Pan Yue reports.
