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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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Hermes has launched a European direct lending fund, as the investment manager looks to carve out part of a market that has recently reached record highs by volume.
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Speculative grade investors are being tempted by higher total returns in the leveraged loan market, but lack of supply and growing demand is favoring a loosening of default protection covenants.
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China’s Goodbaby International Holdings, a developer of parenting products, is debuting in the offshore loan market with a $250m borrowing.
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Canvest Environmental Protection Group Company’s Hong Kong dollar denominated $150m-equivalent loan has attracted five participants.
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HSBC has appointed Borja Azpilicueta as global head of its sponsors, sovereign wealth fund and institutional private clients, replacing Alexis Maskell, who left for Citi earlier this year.
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Indian company TVS Logistics Services wants to increase a loan that it launched in November.