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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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Political calls for the bank capital system to favour green assets are intensifying. GlobalCapital has learnt that Peter Simon, the German MEP running the European Parliament’s work on a big package of banking legislation, is backing the idea.
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German oil refinery Heide chose one of the high yield market's quietest weeks of the year to fund a €200m dividend to its shareholder. Investors bought it, but some bankers spotted a steep premium in the pricing.
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Dividend recapitalisation deals, such as the ones ChemicaInvest and Ten Cate launched this week, are on the rise. The move, considered aggressive by leveraged loan investors, is nevertheless becoming more common and accepted in the present issuer’s market.
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Two leveraged loan deals in the market this week, for Tele Columbus and PlusServer, have both had their margins tightened by 25bp, suggesting that market participants who predicted early this week that spreads were going to start widening had spoken too soon.
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Centratama Telekomunikasi Indonesia has launched a triple-tranche $390m financing into general syndication through two mandated lead arrangers and bookrunners.
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Greatship (India) and Sino Horizon Holdings are in the market with their latest financings, each offering three ticket levels.
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