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Liquidity event at American manager comes at fraught time for industry
No one is sure when AI's threat will strike, or where
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.
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A HK$5.5bn ($708m)-equivalent loan to partly refinance debt taken for investment manager Permira’s leveraged buyout of Tricor Holdings is now open to existing lenders in syndication.
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An innovative collaboration between six organisations from different sectors has led to the creation of the Subnational Climate Finance Initiative, which will work with local governments in developing countries to fund green infrastructure. The scheme highlights the value — but also the difficulty — of blended finance.
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CLO debt investors are demanding cleaner CLO portfolios with underlying collateral less vulnerable to the impact of Covid and with high recovery prospects. With US CLO supply volumes at record levels, investors have the opportunity to pick and choose their deals, pushing managers into a fight over pricing and portfolios.
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IAG issued a dual tranche euro bond this week — its first since the pandemic struck — following an extensive round of actions to shore up its balance sheet in the face of plunging airline passenger traffic. Investors looking for a recovery story piled into the new issue, which found more than €5bn of demand.
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French car parts maker Faurecia has issued its first green bond, which will help fund its growing investments in hydrogen fuel cell technology.
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