Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
A $165m triple-tranche loan for CVC-sponsored Asia Education Investment has been allocated, with three lenders joining during general syndication. The response was considered muted by some but the leads said they only had a limited portion to sell down to begin with. -
British largest off-license chain Conviviality Retail has agreed to buy drinks wholesaler Matthew Clark Holdings with funds from £80m of term loans and a £130m share placing.
-
Tata Steel’s plans to reprice a portion of a $3.1bn loan it closed in 2014 has hit roadblocks, with some lenders on the original syndicate pushing back on a steep price cut. The rebellion is reassuring and shows that despite thinning margins, credit fundamentals are not being overlooked by syndicated loans bankers.
-
Fixed income manager BlueBay on Monday announced new direct lending appointments, as it expects current market volatility and low yields to drive investors into private placements.
-
Tata Steel’s attempt to reprice a portion of a $3.1bn loan sealed in 2014 has run into delays, which bankers are attributing to a lack of communication by the borrower as well as concerns about the steel sector. This has prompted some lenders to rethink what a reasonable cut on pricing would be.
-
Syndication for a $274m loan for Indian pharmaceutical company Strides Arcolab is under way, with one lender at the helm. The proceeds are for the company’s acquisition of Aspen’s generic pharmaceutical business in Australia.
