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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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Japanese regional banks are turning their attention to the CLO market, even as the country’s best-known anchor buyer, Norinchukin, remains on the sidelines. These institutions are struggling with ultralow interest rates and are seeking opportunities abroad, attracted by the asset’s strong performance during the pandemic. -
Debt-laden beauty retailer Douglas is on course to refinance its capital structure at par, an almost unthinkable outcome this time last year, when its unsecured debt was trading in the 30s. Owen Sanderson reports.
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Shipping company Hapag-Lloyd on Thursday priced the second sustainability-linked bond to hit the euro high yield market, with the new issue’s coupon tied to cuts to the carbon intensity of its fleet. Proceeds refinance an old bond, but the firm will carry on its longstanding programme of replacing older, dirtier ships over the lifetime of the new issue.
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Lufthansa is in talks with a number of banks to raise three year money in a Schuldschein deal, according to several sources familiar with the situation.
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Aluminium company Novelis, a subsidiary of Indian conglomerate Aditya Birla, has issued its debut green bond, a €500m eight year non-call three to refinance part of its term loans signed in 2017.
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Tricor Holdings, owned by investment firm Permira, has brought a rare dividend recapitalisation deal to Asia’s loan market. Pan Yue reports.
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