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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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  • Leveraged credit investors are keen to put cash to work this week, and arrangers see a plausible window to execute deals. Opportunistic and strategic financings are both on offer. UK issuers are well represented, nipping through a window before political uncertainty grips the market over the Brexit deadline at the end of the month.
  • Private equity and debt investment group Intermediate Capital (ICG) has named former Standard Chartered chief executive Mervyn Davies its new chairman, replacing Kevin Parry.
  • The Ministry of Finance of the Lao PDR is inviting banks to join a €135m five year loan that Credit Suisse pre-funded in June.
  • India’s PNB Housing Finance is breaking a five-year absence from the loan market, launching a new $75m deal into syndication.
  • Mark Okada, the co-founder of alternative credit investment and CLO management firm Highland Capital Management, is set to retire at the end of the year.
  • Financing a dirty industry to clean up serves a different purpose to keeping a portfolio pure, and appeals to investors with different theories about the economy and the world. It's time for markets to start making the distinction.
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