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As funds swell, pressure to deploy rises and managers can stray from their expertise
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
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Indonesia’s Chandra Sakti Utama Leasing (CSUL) has approached the loan market for $80m, in a deal that comes backed by its accounts receivable.
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Mongolia has received commitments from Chinese lenders for its debut syndicated loan of up to $500m.
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CLO equity investors have been getting squeezed in recent weeks, as managers look to retain more of their own equity in order to comply with risk retention rules and to speed up pricing.
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Buzzi Unicem, the BB+ rated Italian cement and concrete group, on Wednesday issued €500m of seven year notes with minimal support from high yield funds.
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Moody’s said in a report released on Wednesday that the UK leaving the European Union would be credit-negative “for most UK-based companies”.
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The second quarter has seen CLO arrangers pushing through a burst of new issuance on the back of improving sentiment in the market, but a shortage of assets might prove a limiting factor for the market.
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