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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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Samson Paper Co has breached two covenants on a HK$780m ($100m) loan from 2017, with lenders still waiting for more information from the company. -
Andreas Petrie, who is thought of as being a key figure in cultivating the Schuldschein market into an established corporate alternative to bonds in Europe, is to retire at the end of the year.
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CPF Investments, a unit of Thai firm Charoen Pokphand Foods, has returned to the loan market for a refinancing of up to $1bn.
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Carnival Corp, the largest cruise line in the world — badly stricken by the impact of coronavirus on its business — raised €425m and $775m of 5.5 year bonds on Wednesday, which will be subordinated to the $6.25bn of bank loans and senior secured bonds it issued in June and April respectively.
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HIG Capital has appointed a new head of HIG WhiteHorse Europe, the private equity firm’s European direct lending affiliate.
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The Australian short seller, John Hempton of Bronte Capital, told investors that the profits his hedge fund Bronte Capital made on Wirecard’s collapse will not make up losses incurred during his lengthy short of the German payments company. It was an illustration, he said, of the dangers of betting against frauds and highlights the importance of risk management.
