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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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21Vianet Group priced a tap of its outstanding $200m 7% 2020s last Friday, using up the rest of its regulatory debt-raising quota ahead of a week-long public holiday in China. -
US CLO debt investors are skewing their investment portfolios in favour of new issue paper away from resets, despite the availability of collateral remaining a key concern, according to a JP Morgan survey.
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HSBC has poached a senior banker from Bank of America Merrill Lynch to be its head of high yield syndicate, a source familiar with the matter has confirmed to GlobalCapital.
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High yield and emerging market crossover issuer Puma Energy is expected to price a $300m seven year non-call three year bond on Tuesday from initial price thoughts of 5.5% area, and investors say that there is plenty of room for the yield to fall during execution.
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US drug firm Valeant Pharmaceuticals International has started a cash tender offer for up to $1bn of three senior notes due 2020, with investors saying on Monday that the tender could prove so popular that there will be pressure to increase its size.
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The leveraged loan market is showing no sign of slowing after a September filled with jumbo deals as Altice and SFR join the fray with transactions of over €1bn.
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