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Hatzinger had been Agricole's head of loans for Dach
Claim that fees put off institutional investors denied
Liquidity event at American manager comes at fraught time for industry
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Singapore’s Farrer Park Co has become the latest company from Asia to tap the green loan market, raising a S$200m ($147m) facility from United Overseas Bank. -
Swissport has been by far the most sold asset in European CLO portfolios since March, with €384m out of a €900m facility traded, according to trustee reports and Bank of America research. Managers exited the loan at an average price of 74. In an agreement reached two weeks ago, all secured debt will convert to equity, with unsecured debt extinguished.
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First Eagle Alternative Credit priced the first CLO with a five year reinvestment period since the pandemic, breaking a streak of managers opting for deals with reinvestment windows of one to three years.
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Investcorp has hired David Moffitt, former head of CLOs at hedge fund LibreMax, as co-head of its US credit management business.
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Swedish debt purchaser Intrum is in the market with a tap of its 4.875% 2025 unsecured notes, issued in July, intending to use the funds to part-pay its revolving credit facility. The starting size of the tap is €200m but the company has €746m outstanding on its RCF so could easily look to increase the deal size if it receives strong demand.
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Times China Holdings raised $350m from a 5.5 year bond on Tuesday as a way to get ahead of its 2021 dollar maturities.
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