Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
The US private placement market has carved itself quite a following among borrowers in the UK and Europe, with its enticing offer of long dated debt at tight margins. But since Britain voted to leave the European Union, agents are playing on another of the market’s strengths — its resilience to external shocks. Silas Brown investigates.
-
The City of London Corporation, via its endowment fund the City’s Cash, is set to enter the US private placement market for the first time. While UK councils are still a rare sight in the US PP market, agents believe they may be a fruitful asset class for the future. Silas Brown reports.
-
PARIS PRIVATE DEBT ROUNDTABLE European private debt markets are developing fast and diversifying — although many market participants would rather they became standardised. The Euro Private Placement market, founded in France, has not blossomed into a rival to the US PP. Many French issuers now travel to Germany’s larger Schuldschein market.
-
Patrick Drahi’s BidFair USA vehicle has agreed to take auction house Sotheby’s private for $3.7bn, a premium of 61% to Sotheby’s closing share price on Friday. BNP Paribas has provided committed debt financing for the all-cash deal, with Morgan Stanley joining as financial advisor. -
Germany’s Rodenstock has agreed €415m of bank debt, as the eyeglasses company’s financial metrics show sharp improvement following a recent strategic restructuring.
-
Citigroup is in the market with a refinancing of metals waste management company Befesa, following Triton Partners’ exit from the 18.6% stake it held in the company earlier this month through a block trade. The company is raising a €526m loan to refinance its existing 2022 loan of the same amount.
