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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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More Singaporean companies are making the transition to a new local currency benchmark rate in preparation for the end of Libor, with Sembcorp Industries becoming the latest firm to raise a loan linked to Sora. -
Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.
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Citi arranged the reset last week of a $503.9m CLO managed by Elmwood Asset Management, extending the deal with a new five year reinvestment period as CLOs slowly return to pre-Covid format.
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Blackstone Property Partners, the pan-European real estate company, got solid demand for its April 2027 bond on Monday, after last week’s tepid reaction from investors to the sector that saw a deal pulled.
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Goldman Sachs is marketing a new high yield bond for Delek Energy, backed by the royalty payments to come from the Leviathan gas field off the coast of Israel. The financing is effectively super senior to a $2.25bn bond issued in the summer, and ekes out extra debt capacity, borrowing financial technology common in the US shale industry and applying it to a new, Israeli context.
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Leveraged companies or sponsors seeking financing are moving quickly to fund in the immediate aftermath of the November 3 US election. Monday morning saw more than €3bn-equivalent of new supply across high yield bonds and loans announced, across six separate issuers.
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