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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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Banks arranging private placements in Europe have started weighing up bringing companies from the financial sector to market, amid a deal drought from the corporate borrowers which are the usual staple fare. -
Victoria plc, the UK listed carpet maker, is marketing a new bond with most of the proceeds earmarked for cash on balance sheet, an unusual move in the high yield market, where deals are typically aimed at refinancing or specific corporate actions. The company says it will be on the hunt for acquisition opportunities, funded by the Koch Brothers’ preferred equity injection last year as well as the new debt.
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Tikehau Capital has appointed Christoph Zens from Commerzbank as head of the firm’s CLO business, replacing Debra Anderson who is set to retire in the second quarter of 2021.
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China Aoyuan Group had to pay up to sell a $350m bond on Monday, as investors demanded compensation for the property company’s low rating and the deal’s long tenor.
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The US CLO market is gaining positive traction in the first quarter of the year, with strong demand from investors, and spreads continuing to tighten, despite the absence of the Japanese banks, traditional anchor buyers of the senior tranches.
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Online travel agency Hostelworld has signed a five year €30m secured loan facility with HPS Investment Partners, the asset manager headquartered in New York.
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