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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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Nomura is eyeing acquisitions and a change in chief executive promises a reboot of its investment banking ambitions, writes David Rothnie. -
Fantasia Holdings Group Co nabbed $300m from a bond sale on Wednesday, making it the latest high yield Chinese property borrower to dip into the offshore market.
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Some of the largest investment banks made 12% less revenue from lending in the first quarter, despite balance sheet expansion as they supported companies, according to research from analytics firm CRISIL Coalition.
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The possibility of CLO downgrades from the major rating agencies is creating a difficult situation for insurance companies, many of which have bulked up their investments in lower rated bonds in the last two years.
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CLOs structured in the post-pandemic world will see tighter documentation, but more flexibility on ratings, as the market adapts to the lessons learned through the Covid-19 crisis and ushers in a new ‘CLO 3.0’ era for the European market, according to Investcorp Credit Management boss Jeremy Ghose.
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Technicolor has asked its lenders to waive a default condition so it can appoint a conciliateur and begin a consensual debt restructuring process that includes €400m of new financing and a debt-for-equity swap. This follows the failure of the company’s planned €300m rights issue, announced in mid-February but thrown off course by the coronavirus pandemic.
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