Latest Private Equity news

  • Nemera, Cognita change sponsor hands with new buyout loans

    Nemera, the French maker of drug delivery devices, and UK school operator Cognita are funding their new ownerships in a euro leveraged loan market dominated by acquisition deals.

    • 01:45 PM
  • Lev loan market lives 'like there’s no tomorrow’

    Recent deterioration in credit quality, deal terms and potential recovery rates may be storing up trouble in the leveraged loan market but market sources in Europe fear that many of their peers are taking on these risks with no heed to their future impact.

    • 15 Nov 2018
  • OpenLink plugs repricing of March buyout loans in tightening wave

    In a further sign that the European leveraged loan market is approaching the end of the year on a hot note, trading software provider OpenLink is looking to reduce the spread on the leveraged buyout loans it sold in March.

    • 13 Nov 2018
  • Appetite for floating rate feeds new levfin deals

    Leveraged borrowers Adb Safegate and Groupe Ecore had active euro roadshows for floating rate debt, keeping the leveraged finance markets open this week.

    • 12 Nov 2018
  • Europe’s ‘market trap’ biggest threat to leveraged covenants

    A combination of high demand, asymmetric advice and aggressive borrowers is crushing protection terms for leveraged loan investors in Europe, according to fund managers, analysts and lawyers. But the level of demand means that more cov-lite deals emerged this week.

    • 08 Nov 2018
  • IDG ‘extremely aggressive’ while Victoria steps back

    The euro high yield market was giving signs that investor discrimination is back this week, as borrowers IDG and Victoria respectively marketed and postponed new issue bond deals.

    • 06 Nov 2018
  • Verisure dividend refi wakes tighter euro HY

    After a week without any high yield issuance, Verisure launched €1.1bn of dividend recapitalisation and refinancing bond deals this week. The market was already growing busier under tighter secondary spreads and a new refinancing deal from Intertrust.

    • 05 Nov 2018
  • Blame private equity for the state of levfin

    Central banks and international financial institutions have raised a storm over vanishing investor protection covenants in leveraged loans. But most warnings about the market have avoided assigning blame where it is richly deserved — to the private equity industry.

    • 30 Oct 2018
  • Issuers hold their breath amid talk of lev cov alarm

    The leveraged finance new issue pipeline has slowed down in Europe. Market participants pointed to weak macroeconomic data, but also the recent alarms about weak covenants.

    • 29 Oct 2018
  • Recordati HY bond wins over global vol

    Milanese pharmaceutical firm Recordati was out with its CVC buyout funding this week — a €1.3bn bond, in a European high yield market that has mostly ignored Italy’s political fights. But on Thursday, volatility went global and investors started pressing for concessions. Recordati went ahead regardless, and priced on guidance.

    • 12 Oct 2018

Private equity news archive

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,968.83 86 7.91%
2 JPMorgan 15,967.87 54 6.66%
3 Deutsche Bank 14,910.43 52 6.22%
4 Credit Agricole CIB 13,287.71 61 5.54%
5 Goldman Sachs 12,997.24 58 5.42%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,404.19 42 7.76%
2 BNP Paribas 4,918.81 57 7.06%
3 Deutsche Bank 4,345.09 43 6.24%
4 JPMorgan 3,950.54 44 5.67%
5 Credit Suisse 3,757.05 40 5.39%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,123.74 153 10.16%
2 Goldman Sachs 15,830.49 107 7.99%
3 Credit Suisse 13,629.27 97 6.88%
4 Bank of America Merrill Lynch 13,267.41 122 6.70%
5 Citi 13,132.03 109 6.63%