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Bot claims funding is ‘cheaper than peers who borrow from independent banks or credit funds’
Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
A slow destruction of misallocated investment is more likely than a sudden stop
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Marketplace lender SoFi became a publicly traded company on Tuesday morning after it’s merger with Social Capital Hedosophia Holdings, a special purpose acquisition company. -
Apex Credit Partners has returned to the US CLO market, pricing its first transaction of 2021, a $310m deal arranged by Jefferies.
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Two senior leveraged finance lawyers have switched firms from White & Case to Allen & Overy in New York, following Jake Mincemoyer, who joined A&O as head of US levfin in February.
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European ABS has experienced a historic rally in recent months as spreads have tightened in response to a wider economic recovery. But as pent-up supply begins to return to the market, syndicate desks see a widening out of spreads as new issuance increased throughout June and July.
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CLO managers seeking to issue new deals have been sitting on the sidelines waiting for the return of large investors which had supported supply in the first quarter. But a substantial pipeline of new issues is being built.
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TDR Capital is injecting £100m in equity and a £250m payment-in-kind financing to recapitalise gym chain David Lloyd Leisure, as part of a broad-based refinancing including the firm’s first public high yield bond issue. Barclays, which has done most of TDR's recent deals, is running the £900m-equivalent bond, announced on Tuesday morning.
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