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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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International Finance Corp has joined forces with Goldman Sachs to extend a $110m syndicated loan to Vietnam’s An Binh Commercial Joint Stock Bank, a portion of which will be used to provide loans to women-owned enterprises in the country.
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Fitch Ratings’ 2018 leveraged finance outlook forecasted benign credit conditions for next year on Wednesday, but constricted supply and strong CLO demand is expected to lead to further erosions in documentation, analysts said. -
TwentyFour Asset Management said this week that it favours a defensive position in European securitization, given tight spread levels. The firm sees value in CLOs, but cautions that manager behaviour could be a growing risk next year as the credit cycle matures.
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Lowell, the UK-German debt collector, will seek funding for its northern European expansion in the high yield bond market, as it buys Intrum’s branches in the Scandinavia region, Finland and Estonia.
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Shangrao City Construction Investment Development Group (SCID) has grabbed $300m from its debut international bond in the quiet December market.
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European credit funds posted multi-billion inflows this year, as a wave of new investors searched for yield. EQT’s oversubscribed new Credit Opportunities III fund showed on Monday that the market is still pulling in cash to put to work in 2018.
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