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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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Chinese high yield names KWG Property Holding and Kangde Xin Composite Material Group Co, as well as unrated Lenovo Group, launched dollar deals on Thursday morning — just one day after Indian high yield issuer Eros International pulled its bond because of weak demand. -
The primary CLO market has sprung to life following the SFIG Vegas conference held last week, with new transactions set to finally overtake the refinancing market that has dominated the pipeline in 2017.
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French funeral group OGF launched a €960m cov-lite term loan ‘B’ this week as minority owner Ontario Teachers’ Pension Plan plans to increase its stake to 74%.
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Tele Columbus led a band of issuers piling back into the leveraged loan market for repricing requests this week, ahead of an expected wave of new leveraged buyouts in Europe.
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Salt Mobile, the Swiss telecom company, is asking an issuer-friendly HY market to tap some of its old bonds, waive covenants on them, and fund a dividend to its owner NJJ Capital with a new floater.
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Volkswagen’s main borrowing entities have not issued unsecured bonds since the company became embroiled in its diesel emissions test cheating scandal in September 2015. Last week, however, the company took a first step back, with a €900m Schuldschein issue for its financial services arm.
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