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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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Credit Suisse has promoted London-based Arun Cronin to be global co-head of CLOs, alongside New York-based co-head Brad Larson, according to people familiar with the matter. -
McLaren, the sports car manufacturer, closed its $620m five year deal with a 7.5% coupon on Thursday after investors piled into the order book.
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Larger Asian and European commercial bank lenders are being scaled back by as much as 90% in certain Schuldscheine, as sluggish deal flow prompts arranging banks to make tough decisions.
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Borrowers from Greater China rolled out five new bonds on Wednesday to raise more than $2bn between them.
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Non-bank lenders are taking advantage of cash-squeezed properties scrambling for finance with CarVal Investors and Gryphon Real Estate Capital Partners forming a $1bn joint venture to originate multifamily senior bridge loans.
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Oil and gas company Ithaca Energy has launched a five year senior unsecured bond, looking to refinance its 2024 notes and repay part of a shareholder loan from its Israeli parent Delek.
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