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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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Institutional investors holding Hammerson’s £689m ($900.27m) of private placements (PPs) are to be offered a pre-payment option first after the UK property company’s intended rights issue, according to a prospectus on the upcoming trade. Unlike the UK property company’s bondholders and bank lenders, during their coronavirus amendment process, PP investors negotiated an offer of pre-payment at par of 30% of any proceeds of capital raises or disposals. -
Barclays is building up sustainability coverage in its investment bank with new positions announced globally on Monday and effective immediately.
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Taiwan’s Taiflex Scientific Co, an electronic parts and components maker, has closed a dual-currency borrowing of NT$2.5bn ($85m) with eight banks.
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UK student loan securitizations are set to repay faster if the government decides to reform inflation indices in 2030, benefiting junior investors. Other noteholders could see returns drop if the government opts for an earlier switch date, however.
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Nordex has signed a €350m revolving credit facility, guaranteed by the German state, to help the wind turbine manufactuer through the coronavirus pandemic. Elsewhere in Germany, Tele Columbus refreshed its loan support.
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A consortium-led by Henderson Land Development is in talks with banks for a new loan to support its development of a residential project in Hong Kong.
