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GC Asia
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Abu Dhabi’s Yahsat launches IPO
Yahsat, the satellite company owned by Mubadala, will attempt a listing on the Abu Dhabi Securities Market (ADX). The company is seeking to list at a time when the European IPO market is difficult, but there is hope that strong local interest and emerging market equity investors will see the deal across the line.
21 Jun 2021 -
KPS cranks leverage in Crown carve-out
KPS Capital Partners is cranking up the leverage on Crown’s European can packaging business, following its successful bid for the carve-out agreed in April.
21 Jun 2021 -
Valeo Foods looks for loans in Bain buyout
Valeo Foods, the Irish ambient food business, is looking to raise nearly €1.2bn-equivalent of loans to finance its secondary buyout by Bain Capital from previous sponsor CapVest Partners.
17 Jun 2021 -
End of an era for Punch as it preps HY bond to pay off securitization
UK pub company Punch Taverns has launched a £600m senior secured high yield, which will pay off its remaining securitization debt in the Punch 'B' securitization — the only remaining part of Punch’s giant £2.4bn stack of securitized debt, the focus of one of the UK’s most contentious restructurings back in 2014.
15 Jun 2021 -
KKR launches aircraft loan servicing platform
Investment firm KKR announced the launch of AV AirFinance, a global commercial aviation loan servicer, on Friday. The launch comes as investor interest in US aircraft ABS grows as the buy side positions themselves early to take advantage of the recovery in the sector.
14 Jun 2021 -
Nouryon spin-out launches debt package
Nobian, the industrial chemicals unit of Nouryon, launched the debt package for its spinout on Friday, offering up a €1.19bn ESG-linked five year term loan 'B' through Credit Suisse, HSBC and JP Morgan. This will be followed by a bond deal, which is yet to be announced, to complete the €1.615bn senior secured financing.
14 Jun 2021 -
CVC joins PE firms raising cash in private debt markets
Alternative asset manager CVC Capital Partners has issued €1.25bn in US private placements, according to market sources. The trade follows similar moves by Bain Capital and Dyal Capital in the past 12 months, but is the first iteration of the trend to be priced in euros.
11 Jun 2021 -
Bread Street aims to bring private equity to UK pensions
Two former investment managers at Aberdeen Standard have launched a firm called Bread Street Capital Partners, with the aim of creating a series of listed private markets funds to broaden access to the funds of top tier financial sponsors. The firm also aims to capture more investment from UK defined contribution pension schemes, which have historically had tiny allocations to private equity compared with some of their international peers.
10 Jun 2021 -
Colisée looks to reprice EQT’s acquisition debt
Nursing home and elderly care company Colisée, which EQT Infrastructure acquired last year, was in the market on Thursday, looking to reprice the €875m acquisition facility and add-on a further €150m to pay down its revolver.
10 Jun 2021 -
Derichebourg readies green high yield bonds for Ecore buy
Derichebourg, a French waste disposal and recycling firm, is looking to sell €300m of seven year senior unsecured green notes to finance the acquisition of private equity-backed competitor Ecore.
07 Jun 2021
