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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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The direction of central bank policy is increasingly coming to govern Investment grade and high yield bond investors' hunt for yield, with many of the latter now looking to triple-C rated paper to better hedge against the risk of rate hikes.
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New issue momentum in Asia’s debt market continues to be strong with Powerlong Real Estate Holdings and China National Chemical Corp (ChemChina) collecting bids on Wednesday, as Sinochem International Corp prepares to hit the road. -
The US new issue CLO market sparked back into life this week, with four new deals sold in addition to refinancing and reset activity. Investors have shifted down the capital structure and driven the US CLO credit curve to its flattest level in three years.
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The European Central Bank's loose monetary policy was supposed to ease financing terms for smaller and riskier companies. The high yield bond market's appetite for such issues has been limited — but it is hotting up, just as the ECB signals tightening.
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Corporate issuers of triple-C rated bonds have finally found a reason to enter the primary market, as investor expectation over the chances of the European Central Bank raising rates has opened a window for them in July.
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Swissport Group announced on Tuesday a technical capital restructuring following its breach on certain debt covenants. The restructuring includes a new €460m term loan ‘B’ and the repayment of its existing €660m term loan ‘B’.
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