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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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Sorgenia, an electricity and gas company controlled by the Milan-listed holding company Compagnie Industriali Riunite (CIR), has suspended payment of over €60m due on its debt and entered talks with banks to reduce its credit facilities by €600m. -
Seadrill, the Oslo-listed offshore drilling company, has increased its term loan ‘B’ to $1.8bn and priced it at 300bp over Libor, at the tight end of guidance.
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Callcredit, the UK’s consumer data and software provider, will launch a leveraged loan package next month to back its acquisition by Chicago based private equity firm GTCR.
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Aramark, the US catering and facilities management group, is due to allocate $4.8bn-equivalent of loans on Tuesday (February 18), having received commitments from investors last week.
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The UK’s Trader Media Group is refinancing £336m of debt originally raised in 2011 as part of a broader plan to fund its acquisition by Apax Partners.
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Astra Sedaya Finance has opened up its $330m three year loan to the market, with the aim of hitting the target of at least $500m from lenders joining in general.
