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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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A boom in CLO refinancing and reset volumes, alongside intense new issue activity, is leading to worries about whether banks, rating agencies, law firms and other deal parties have the capacity to cope. -
More securitizations of UK government-backed SME loans are being executed in private, with Funding Circle, a pioneer in the market, closing a deal with Sixth Street and Barclays in late January.
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Holders of Gategroup’s Swiss franc high yield bonds, thought to be mostly retail investors, look set to be bound by a High Court of England and Wales judgement — handed down on Wednesday — in the restructuring of the in-flight food provider’s debt, despite bond terms giving exclusive jurisdiction to the courts of Zurich.
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HSBC Asset Management has partnered with HSBC UK to launch a direct lending platform, targeting smaller and mid-cap corporates.
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Chinese delivery company SF Express Co is seeking an up to HK$24bn ($3bn) loan for its acquisition of Kerry Logistics Network, signalling the start of a revival in fundraising for event-driven situations. Pan Yue reports.
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A recent bout of volatility in the secondary trading of Chinese high yield bonds means supply from lower-rated credits is expected to remain muted over the next few weeks. While stability has returned to the debt market, investors remain cautious, writes Morgan Davis.
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