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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
Liquidity event at American manager comes at fraught time for industry
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Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication. -
CT Corp company Trans Retail Indonesia has allocated its $575m borrowing among a group of 36 lenders.
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Brazilian energy company Petrobras has kicked off global syndication for a $1bn facility, which it is borrowing through its overseas arm Petrobras Netherlands.
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Citi has hired Shawn Borisoff into its global asset managers group, one of the final pieces in its long-running build out in sponsors coverage and leveraged finance. GlobalCapital understands the bank is still looking to hire for M&A and advisory, but Borisoff represents the final piece of the sponsors build-out.
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The global head of private credit at KKR has left the firm — despite its filing documents for a third ‘Lending Partners’ fund this week, suggesting it is raising another direct lending vehicle.
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The loan package backing Ardian’s buyout of Prosol Group, the parent of French food retailer Grand Frais, is set to increase leverage at the firm to more than five-and-a-half times Ebitda, a level that one investor said was overly aggressive in the sector.
