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Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
Manager refinances 2023 deal, reset in 2024
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Future Retail has missed a payment on a $500m debut bond, sold just six months ago, as Covid-19 hits the Indian company’s business. -
Invesco has changed the line-up of its fund managers across a number of fixed interest funds, with Paul Read, co-head of fixed interest, stepping down from several funds.
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More US CLO managers are growing their presence in Europe, enticed by a tighter market for the bonds, growing demand from investors and a more contained Covid-19 crisis compared with the US, sources tell GlobalCapital.
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Royal Vopak, the Dutch oil and gas storage company, has sold $500m-equivalent in US private placements.
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Drinks bottler Refresco is targeting a €400m term loan 'B' deal intended to finance acquisitions in Europe and the US.
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Several companies boasting Big Four accounting firms as auditors have emerged as fraudulent, leading many to wonder what value auditors bring to an investors' understanding of a company. The big issue is that auditors have little obligation to detect fraud at companies they audit, and neither it seems does anyone else. Until they do, investors need to stop believing a Big Four sign-off is a seal of approval. In fact, for a system supposedly built with its own reputation in mind, developed markets have offered investors very little protection.
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