Top section
Top section
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
Manager refinances 2023 deal, reset in 2024
More articles
More articles
More articles
-
The search for yield is shovelling more fuel on to the fire of an already blazing corporate bond market. Investors are keeping a close watch on Enel’s euro sustainability-linked bond issue, which is being marketed via investor calls on Wednesday, as a gauge of the market's health.
-
Indian telecommunications company Bharti Airtel’s efforts this year to deleverage were capped with the issuance of a subordinated perpetual $750m bond on Tuesday. The deal, alongside further stake sales planned for the rest of 2019, puts the company on track for a more stable debt profile. Morgan Davis reports. -
Investors have mixed feelings about bonds from Chinese property companies, but a likely supply-demand rebalance could signal yet another honeymoon period for the sector.
-
Philippine conglomerate San Miguel Corp is inviting banks to join a $1.75bn term loan that will be used to take out a bridge facility that supported its acquisition of Holcim Philippines.
-
Danish sub-investment grade boutique Capital Four has unveiled its long-rumoured CLO debut, a €359m deal with ESG investment criteria, an increasingly popular approach in European CLO structures.
-
Clauses to stop investors who are ‘net short’ a particular credit influencing any restructuring or default are becoming more common, with buyout debt for Bain Capital’s Kantar spinout and Blackstone’s Merlin take-private including the new terms. These may not be watertight, but that doesn’t matter — the point is to make it awkward for investors taking this approach.
Sub-sections
shared comment list
