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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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A €179.4m loan to support Chinese company Aier Eye Hospital Group’s acquisition of Spanish firm Clinica Baviera has entered syndication with three banks at the helm. The deal is another example of Mainland firms’ eagerness to expand overseas, which is in turn giving the country’s lenders with similar ambitions a leg-up as they venture into relatively unexplored markets. Shruti Chaturvedi reports. -
Fantasia Holdings Group returned to the high yield bond market for the second time this month, but was forced to pay heavily for a $300m deal.
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Chinese property developer Modern Land (China) Co is making a comeback to the international green bond market, opening books for a short-term trade on Thursday morning.
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French media content producer Banijay is funding the acquisition of Castaway Television with its first ever bond. It has scheduled pricing for Friday, rising the tally of potential high yield bond sales above €2bn for this week.
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Banks have approached rating agencies with an eye on possibly securitizing portfolios of private equity fund investments, like the collateralized fund obligation that was priced last week, as credit investors search more widely and deeply for assets with yield.
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Buyers considering Klöckner Pentaplast’s €1.6bn loan and Manutencoop's high yield bonds forced the issuers to sweeten terms this week, in a now rare sight in the leveraged finance market.
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