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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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Digitalisation and its impact on traditional practices was front and centre at a CLOs and leveraged loan event at the SFVegas conference on Monday, where speakers were focused on the advent of digital platforms, what is possible and what is premature. -
Singapore’s Park Hotel Group has sealed its maiden green loan, raising S$237m ($169m) from United Overseas Bank.
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An unusual sale of old bonds in the primary market was announced on Monday. Two entities of Brookfield, the Canadian asset manager, are selling up to $411m of bonds issued in 2018 by Teekay Offshore Partners, the Norwegian oil services group.
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Chinese travel services provider Trip.com Group has picked Standard Chartered as the mandated lead arranger and bookrunner for a $1.2bn refinancing deal.
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Swissport, the airport services company owned by HNA Group of China, successfully shaved 25bp off the cost of its term loan B in its recent repricing, in spite of a backdrop of increased fears about the coronavirus and its impact on the aviation industry. However, the deal was less of a slam dunk than other recent refinancings.
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Dutch equipment rental company Boels has launched a €1.61bn term loan B to finance the acquisition of Cramo, a Finnish rival. It is a rare chance for lenders to access a leveraged deal with maintenance covenants, a concession sponsors will no longer give but which some companies can still tolerate — though the huge headroom in this case means they are a minimal restriction.
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