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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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While low oil prices have caused financial problems for many borrowers in the Nordic high yield market, the opposite has been true for the unrated Finnish airline Finnair, which will open a roadshow for a sub-benchmark sized offering on Friday.
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Cerba has increased its buyout term loan to €794m after dropping a planned bond. It is the second successive large cap buyout this year in which that has happened.
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Chinese local government financing vehicle (LGFV) Fujian Zhanglong Group wrapped up a $200m tap of its bonds this week, as it aimed to get its funding out of the way ahead of any unpredictable moves in the US Treasury yield, said bankers close to the trade.
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Hong Kong-listed Fosun International ventured out with a new offering on Thursday following reverse enquiry and on the back of the FOMC meeting. Sources in the market said secondary markets reacted positively to the rate hike.
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Leveraged debt investors are not quite ready to retreat from their position in Canadian drug maker Valeant Pharmaceuticals, despite long-term advocate Bill Ackman abandoning his holding in the company on Monday.
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Six borrowers announced offerings in the European high yield bond market on Monday as borrowers looked to beat what could have been disruptive Dutch elections two days later.
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