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Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
Manager refinances 2023 deal, reset in 2024
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Citi has replaced the former head of its EMEA alternative assets group with a promotion from within, Theo Giatrakos, who will work alongside a newly hired chairman, Didier Denat, the former head of corporate banking at Credit Suisse.
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A number of Chinese high yield borrowers that hit the dollar bond market this week have seen mixed responses to their notes in secondary trading, which bankers say is a sign of changing market sentiment and investor response.
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Turkish companies and banks are succeeding in raising funds in international debt markets, even as the country strays near the edge of an economic precipice and experienced investors view Turkish risk with disdain.
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RBC Capital Markets has tapped a CLO director at Citi to lead its CLO structuring desk.
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The UK's High Court delivered a ringing endorsement of the country's new restructuring regime this week in a landmark ruling on gym chain Virgin Active, showing that companies have a new route other than CVAs to cut their debts to landlords. Silas Brown and Owen Sanderson report.
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CLO refi and reset activity has departed from its usual forms, with some managers resetting a single deal in a limited time frame, while others take the opportunity to switch tranches from fixed to floating, or focus refi efforts on a limited number of tranches. Managers don't want to lose the opportunity presented by current market conditions to save costs, and are seeking different solutions to optimise their structures.
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