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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
Sole bookrunner Morgan Stanley gets deal multiple times covered
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Algeco Scotsman, the US storage group owned by TDR Capital, is talking to investors about sweetening the terms of its new high yield bond issue, due to be priced on Monday afternoon.
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Blackstone announced its biggest acquisition for a decade this week, as it swooped on Thomson Reuters' data business for an enterprise value of $20bn. That left financiers waiting to see if it kick-starts a new round of big leveraged buyouts (LBOs) among private equity firms sitting on mountains of uninvested cash. Michael Turner and Victor Jimenez report.
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Private equity firm 3i is taking advantage of bullish conditions in the leveraged loan market to launch its fifth dividend recapitalisation of Action, the Dutch non-food discount retailer it bought in 2011.
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US lottery and gaming group Scientific Games International sold its first euro bonds this week, in a European high yield market that bankers and investors described as ready and steady for opposite reasons.
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Private equity firm PAI's divestment of its majority stake in Kiloutou, the French equipment rental firm, is pumping supply into the term loan market this week through a secondary buyout. Meanwhile, PAI is itself funding its leveraged buyout of Albéa, a French beauty product packaging group, with a high yield pay-if-you-can (PIYC) bond.
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Investors looking for lower rated high yield bonds welcomed the roadshow of a three tranche, multi-currency deal from Algeco Scotsman, a US modular space and secure storage group, this week.