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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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Leveraged finance bankers said on Monday that Altice could get “financing at the drop of a hat” for a possible takeover of rival Bouygues Telecom, but added that negotiations for the deal could be hairy.
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Obrascón Huarte Lain, the Spanish construction company and high yield borrower, faces a political review of its €500m Canalejas project in Madrid, but the high yield market has so far reacted well to the news.
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Indomobil Finance Indonesia has tripled the size of its facility to $300m following rousing demand from banks, with the syndicate group seeing no scaleback in their final holds.
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The eurozone’s angst over Greece slowed down the high yield market this week, with only two deals priced. The second of these was Worldwide Flight Services’s €225m unsecured bond.
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Bank of America Merrill Lynch has irked some investors, by planning to cut emerging market issuers out of its high yield bond indices, after some big issuers like Petrobras and Gazprom were downgraded into the indices.
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Ufinet, the telecoms unit of Gas Natural Fenosa formerly called GNF Telecom, which was bought by Cinven last year, is seeking to cut the margin on a €295m leveraged loan it allocated last July.
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