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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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Embattled UK clothing retailer New Look is embarking on its second round of credit restructuring in two years, after gaining support from its lenders and the majority of its noteholders for a debt for equity swap. It is planning on reducing senior debt from £550m to £100m. -
NatWest Markets has restructured its divisions and given them new leadership. It is also moving some UK corporate-focused bankers over to the ring-fenced bank.
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Indonesian tanker company Soechi Lines, which is facing a big hit to its shipyard operation, is in discussions with banks for a refinancing loan.
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Many saw the US Federal Reserve’s decision to lend hundreds of billions of dollars to certain central banks at the height of the coronavirus crisis as pivotal in preventing further calamity in global markets. Brad Setser, senior fellow for international economics at the Council of Foreign Relations, gives a great deal of credit to the Fed for its forceful intervention. But if markets begin to see the US central bank as a global lender of last resort, there may be a greater risk of imprudent behaviour and more political tumult in the US.
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Chinese delivery company Yunda Holding Co made its debut in the dollar market on Wednesday, raising $500m.
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As the economic effects of the coronavirus pandemic ripple through capital markets and defaults pile up, CLO managers are scrambling to alter deal structures to cope with heightened risk and to take advantage of new opportunities. Paola Aurisicchio reports.
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