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Claim that fees put off institutional investors denied
Liquidity event at American manager comes at fraught time for industry
No one is sure when AI's threat will strike, or where
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Indonesian textile products manufacturer Sri Rejeki Isman, better known as Sritex, is planning to extend a dollar loan closed in 2019 by two years. -
BlackRock priced the tightest three year reinvestment period CLO since the pandemic hit, selling senior notes at 120bp over three month Libor and tightening the double-B spread from recent prints.
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France and Germany will end up as the largest countries in the EU's capital markets after Brexit, including in primary equity and debt markets, according to new research from the think tank New Financial.
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Travel company Tui announced its third bailout package since March on Wednesday, adding a substantial equity cheque to more state-backed debt, as troubled companies shift their focus from emergency cash to stable capital structures. A sharp rally in the company’s shares helped firm up the rescue package, but some questioned whether the new money will be enough.
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Webuild, the Italian construction company formerly known as Salini Impregilo, has launched a refinancing of its €600m 2021 bond, after finally completing the takeover of stricken competitor Astaldi at the beginning of last month. The new tender offer is intended to finish a refi attempt started in January, which received lacklustre take-up.
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Euro securitization secondary markets leapt into action as traders see a window of spread tightening in December, crossing their fingers and hoping macro worries have abated for the remainder of the year.
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