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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 European Leveraged Finance Association has called for better transparency in high yield covenant packages, arguing that clarity is crucial for pricing risk. The call comes shortly after one of the largest covenant climb-downs in recent market history, when lead banks on ThyssenKrupp Elevator stripped many of the most controversial terms from the €8bn financing.
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Royal Bank of Scotland's structured finance head Andrew Blincoe has become head of large corporates and institutions at RBS Commercial Banking, as well as keeping his existing responsibilities as structured finance head, following the departure of Laura Barlow.
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Charoen Pokphand Indonesia is gauging appetite among a select few existing lenders for a new $307.9m-equivalent dual-currency loan.
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CDP, the leading platform through which companies report their carbon emissions, has become the latest organisation to launch a potentially influential system of temperature ratings, so investors can work out how much global warming each company’s plans will theoretically lead to — and hence the overall temperature of a portfolio.
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John Muncey has joined Barclays as vice-chairman of its consumer retail group (CRG) in Europe and the Middle East, while Jamshed Kakalia has been promoted to lead the consumer business in that team.
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Four banks are set to sign the mandate letter for a $210m loan to support private equity firm KKR’s acquisition of India’s JB Chemicals & Pharmaceuticals.