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Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
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Two Hong Kong-based loans bankers from Bank of America Merrill Lynch’s Asia Pacific debt solutions team have left the firm.
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Chinese auto rental company eHi Car Services has signed up new lenders for its $150m loan that opened for retail participation in May.
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Luxembourg-headquartered Armacell has launched a repricing request on its €445m term loan ‘B’, following Blackstone and Kirkbi’s acquisition of the foam insulation manufacturer from Charterhouse earlier this year.
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KKR-backed Pillarstone, the non-performing loan acquisition and advisory company, has picked a chief operating officer after starting operations last year.
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Europe’s investment grade corporate bond market has surprised few with the intensity of its start to autumn as issuers begin a run of primary activity that shows little sign of abating.
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Royal Industries Indonesia, which failed to pay the first principal instalment of a loan borrowed in June 2015, has asked banks for additional funds to help resolve its liquidity problem.