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Direct lenders take the initiative as banks step back
In recent weeks, private credit and direct lenders have brought more certainty to borrowers as capital markets were roiled by tariff chaos
Banks already working on deals in the industrials and chemicals sectors
As Ares raises the largest direct lending fund, Goldman Sachs reorganises to serve the trend
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Avago Technologies, the electronics components manufacturer, has commitments due today at 12pm London time for a new €500m term loan ‘B’ for its $37bn sponsor-backed acquisition of Broadcom Corp.
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Ethypharm, the French pharmaceuticals company, has allocated €287.5m of new loan facilities at a wider margin than it initially proposed.
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Azelis, the Antwerp-headquartered speciality chemicals distributor, will hold bank meetings in New York today (Friday) and in London on Monday for a $675m transatlantic acquisition loan.
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Global Blue, the Swiss tourist VAT refund company, held bank meetings on Wednesday for a €221m seven year term loan ‘C’ dividend recapitalisation loan.
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Swissport, the world’s largest air cargo handling company, met banks this week for €1bn-equivalent of new loans for its acquisition by HNA, a Chinese private equity firm.
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The sudden bankruptcy of OW Bunker, the world’s largest shipping fuel supplier and Denmark’s third largest company by sales, in November last year shocked the equity capital markets.