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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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Credit Suisse took a $294m hit from marking leveraged finance underwriting exposure to market in the first quarter, its results on Thursday showed, as March’s volatility and jump in credit spreads took their toll. -
The European Central Bank is expected to broaden its asset purchasing to include bonds from issuers that have lost their investment grade ratings as a result of the coronavirus crisis — a funding lifeline to companies now rated BBB- or with one foot already in the junk camp.
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CLO managers are on the defensive as the pace of leveraged loan downgrades accelerates in April.
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Banks providing reserve-based lending facilities to oil exploration companies are looking to sell these loans, usually held and refinanced as ultra-secure relationship products, at bargain basement prices.
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Italian-American car company Fiat Chrysler has drawn down on its €6.25bn revolving credit facility to shore up its finances during the Covid-19 pandemic, though the company has left a new bridge loan untouched.
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A divergence is forming between loans bankers and bond market investors over how to treat oil borrowers after the historic crude price falls, with the fixed income investor market seemingly taking a more bullish approach on the industry.
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