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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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Bridgepoint Group, the UK private equity firm, has seen its stock rocket on its first day after pricing a £907m IPO on the London Stock Exchange. -
The Vietnam consumer finance subsidiary of Korea’s Mirae Asset Financial Group has become the latest firm to join a flurry of Vietnamese financial institutions in the loan market.
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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.
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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.
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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.
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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.
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