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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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Intermediate Capital Group’s CEO and chief investment officer is to retire later this year after 23 years at the firm. -
MUFG has hired a senior leveraged finance banker from RBC Capital Markets to head financial sponsors within its leveraged finance team in EMEA.
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Investcorp, the Bahraini investment house, wants to more than double its leveraged credit portfolio to $25bn, after buying the global debt business from 3i.
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Europe’s vibrant direct lending market, in which specialist funds lend privately to companies, often without bank arrangers, is swallowing bigger and bigger deals. But the market is heading for trouble when the credit cycle turns, participants warn. Max Bower and Jon Hay report.
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Albéa, the French packaging firm owned by Sun Capital Partners, has scheduled a bank meeting for Monday in London about a $921m-equivalent bond to loan refinancing and dividend recapitalisation.
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India’s Jindal Steel and Power (JSPL) is negotiating with lenders to extend maturities on syndicated and bilateral loans worth a total of about $760m, according to sources. With commodity prices having come out of last year’s lows, lenders are thawing to the sector but will continue to approach it with caution, writes Shruti Chaturvedi.
