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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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Angus Whelchel, former global head of private capital markets at Barclays, has been hired by US boutique advisory group Moelis & Co to head its private capital markets team. -
Heathrow is asking its high yield creditors to waive covenants it expects to breach this year in a return for a new commitment to a minimum cash level, a boost to coupon payments and a cancellation of any dividends, as it grapples with an 81% dive in earnings.
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Virgin Media’s rapid-fire refinancing binge continued on Wednesday with a new high yield bond offering, the fifth so far this month, part of what the company says is a “strategy of refinancing ahead of the curve and maximising tenor across all credit silos”. But the refi binge, which has seen more than $2.5bn-equivalent issued this month, has cost the company dearly, as many of the bonds it is terming out are inside their call dates — meaning it must pay the “make-whole” cost to redeem them.
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A spate of real estate and government-linked borrowers from Greater China flocked to the dollar bond market on Tuesday.
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Campaigners for equality for lesbian, gay and transgender people in the US hailed a historic victory on Monday, when the Supreme Court for the first time made it illegal throughout the country for employers to discriminate against staff on grounds of sexual or gender orientation.
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Apollo Global Management has hired Rina Joshi as managing director in a new position focused on distressed investments in Apollo’s global credit business.
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