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Managing director joined in Paris last week
This year’s expected surge in IPOs and M&A deals should drive a proliferation of strategic equity derivative transactions, with $2bn of fees up for grabs
New posts meant to strengthen cross-business ties
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  • CLO issuers are flooding the market with repricings of old deals to lower their cost of financing. Sound Point Capital is the latest manager to have partially refinanced a 2019 CLO, slashing the spread on the senior notes by 29bp.
  • Far from heralding the dawn of a new post-pandemic paradise, England’s removal of almost all social restrictions this week could easily lead to a sharp rise in corporate defaults.
  • At the start of the pandemic, it made total sense for investors to pile capital into distressed debt funds. More than a year on, the decision looks like less of a slam dunk.
  • French supermarket chain Casino has extended a €1.8bn syndicated loan to July 2026, as it tries to keep on track with its deleveraging road to recovery. Its subsidiary Monoprix has also obtained the group’s first sustainability-linked loan.
  • Car Inc is seeking a new loan after an absence of five years from the market, but it will have to navigate the fallout from Luckin Coffee’s past governance concerns and the latest crackdown by China on technology companies to get its deal across the finish line. Pan Yue reports.
  • Chongqing Pharmaceutical (Group) Co is making its debut in the loan market for $150m. It is set to directly compete against a larger Chinese state-owned peer that is also testing lenders’ appetite for a new fundraising.
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