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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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Unilever, Eversholt Rail and Grand City Properties have all defied the season this week to bring corporate bond issues, and been rewarded with strong demand.
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Sri Lanka has reached its target of $1bn from a three year syndicated loan that was launched at $450m, after demand poured in from Indian lenders.
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PGIM and Octagon were active in the US CLO market on Monday and Tuesday this week, as new CLO formation is said to be building momentum despite the difficulty of attracting equity investors given the squeeze on returns at the bottom of the structure.
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Bain Capital’s Diamond, the cleaning chemicals business, had to remove a controversial restricted payment clause before printing the triple-C rated bonds of its new financial structure on Tuesday.
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Michael Kors, the US luxury fashion company, has signed a £1.115bn bridge facility for its £896m acquisition of UK competitor Jimmy Choo from majority shareholder JAB Luxury, the retail holding company of the Reimann family.
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Bankers speaking to GlobalCapital seemed unable to make up their minds about how the second half of the year will play out in the European high yield market. But they agreed that deals in the works for September will bring little challenge for investors.
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