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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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Ineos Styrolution this week completed a loan refinancing with margins well below the 350bp market average for new deals — but the pricing will be replicated by the leveraged market’s top credits, said market participants. -
Alliance Data Systems Corporation (ADSC) raised €400m from a high yield bond on Thursday, taking euro issuance from US companies to 20% of all European sales in the asset class so far this year.
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Axa IM has launched a European corporate high yield bond fund that plans a buy-and-hold approach through to its maturity in 2023.
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Indonesian palm oil seller Royal Industries is looking to restructure a $405m loan after failing to repay the first and second instalments. And going by precedents, market participants are bracing themselves for a long-winded recovery process as legal proceedings unfold, writes Shruti Chaturvedi.
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HSBC has appointed a new head of leveraged and acquisition finance for Asia Pacific, transferring James Horsburgh from London as part of a shake-up of the business.
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HSBC confirmed that it was sending James Horsburgh, a senior member of its EMEA leveraged finance team, to run the business in Asia, as previously reported in GlobalCapital.
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