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◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
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
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Angelo Gordon has hired Putri Pascualy to its investor relations team in New York as a managing director and credit product specialist. -
Europe’s banks sniff opportunities amid the crisis as they look to build out their corporate broking businesses, but they will face fights to remove incumbents, writes David Rothnie.
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UK pub companies with secured debt structures are asking bondholders to waive covenants and suspend potential enforcement action, as the government-mandated shutdown continues. Bondholders in Punch Taverns Finance B are being asked to feed last year's figures into covenant calculations while the lockdown is in force, in a potential model for the other pub companies struggling with stalled cashflow.
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Netflix was set to price a five year euro tranche in a $1bn-equivalent high yield bond at 3% on Thursday evening, proving there is ready market access available for companies that can demonstrate they’re coping with coronavirus. The streaming company saw record subscriber growth and broke into free cash flow territory for the first time, partly thanks its smash hit documentary Tiger King, watched by 64 million households.
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GlobalCapital's Silas Brown spoke to Mathieu Chabran, co-founder of European alternative asset manager Tikehau Capital. They discussed how the relatively new private debt market in Europe will navigate its way through the pandemic, who the winners and losers will be in the asset class, and what opportunities may emerge from the dust.
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Tianqi Lithium Corp’s rising debt burden since its acquisition of a stake in a Chilean mining company two years ago is causing trouble. The Chinese borrower is seeking covenant waivers and a tenor extension on part of a $3.5bn loan, raising concerns among bankers about the performance of other commodity credits amid the Covid-19 pandemic. Pan Yue reports.
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