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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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LondonMetric, the UK real estate investment trust, is marketing a private placement deal, according to market sources. -
EG Group leant on private markets to raise cash for its purchase of the forecourts business of UK supermarket Asda and a chain of German petrol stations from OMV. The group is raising first and second lien loans, and, on February 26, privately placed a £675m Reg S-only bond.
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Taiwanese semiconductor distribution company WT Microelectronics is plotting a return to the loan market after an absence of almost eight years. Bankers say more companies from the sector are likely to turn to loans in 2021 as strong growth in the industry propels opportunistic fundraising. Pan Yue reports.
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Chicago-based middle market CLO manager Monroe Capital has sold a minority equity stake to Bonaccord Capital Partners, a subsidiary of the UK asset manager Aberdeen Asset Management. The minority interest is classified as 'passive', in which the buyer will not exercise control by votes and will not have impact on the day-to-day management, operations and decision-making processes of Monroe. Terms of the investment were not disclosed.
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Goldman-owned hotel chain B&B Hotels has launched a new loan deal for liquidity, in a test for the loan market's capacity for the next generation of rescue funding in the most distressed industries. The deal comes alongside an equity cheque of €80m.
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Real Estate Investors, a UK commercial property REIT, has refinanced £51m of term loans, as the real estate sector continues to be one of the main drivers of European debt activity.
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