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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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A Climate Bonds Initiative and Credit Suisse document on ‘financing credible transitions’ may help to create a market standard for judging when a company is moving to a net-zero carbon future. One of its creators said that, in theory, firms could raise dedicated transition equity as well as debt.
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The ‘normalisation’ of the CLO market has stalled, with spreads for single-B tranches now at levels where issuing makes little sense, pushing many managers to retain these notes or print lower levered deals.
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NH Hotel Group, the Spanish hotel chain, has extended its revolving credit facility, but three lenders have pulled out of the deal, which has been reduced in size by €14m to €236m.
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Indian software firm Hexaware Technologies has wrapped up a $600m loan to fund its take-private by Baring Private Equity Asia.
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Property company Hengli Group and real estate-focused private equity firm Gaw Capital Partners are taking advantage of a recent regulatory change in Hong Kong to increase a loan closed last year.
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Onex Credit Partners and Bain Capital Credit each priced CLOs with five year reinvestment periods on Wednesday, the latest managers to return traditional CLO structures that were upended by the coronavirus.
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