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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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It is open season for repricings in the levloan market and lenders are feeling the squeeze. Two firms, one Austrian and one US, launched requests on Wednesday. They followed SIG Combibloc and Ineos Styrolution’s lead in exploiting ever friendlier conditions for issuers looking for cheaper debt, writes Max Bower. -
A rush of both reset and new issue CLO deals is heating up competition in the new issue market, as managers look to sell to a limited number of investors.
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Thom Europe, the French jewellery retailer owned by private equity firm Bridgepoint, sold a €190m tap of its 2019s to fund the acquisition of Stroili Group, an Italian peer.
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Ineos-owned styrene manufacturer Styrolution tightened guidance on its €1.1bn refinancing on Thursday while altering the structure of the deal, in a market dominated by refinancings.
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Hong Kong-based WeLab is set to dip its toes in the Asian syndicated loans market for a $50m borrowing, potentially fuelling a trend of fintech start-up lenders hitting the wholesale market for funds.
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State Bank of India (SBI) succeeded in pricing the first offshore Basel III additional tier one (AT1) offering from an Indian name this week, but a bullish pricing strategy meant orders were muted and it has struggled in secondary. Despite the glitches, many believe the deal has set an important benchmark, writes Addison Gong.
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