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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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CIFC Asset Management’s debut European deal, which was priced on Monday through Deutsche Bank, shows the slim premium required for new issuers in the European market — despite increasing fears that the manager landscape is becoming crowded. -
Bond investors will have a chance to give a further indication of their appetite for Argentine risk as Pampa Energía looks to follow in YPF’s steps and continue to reactivate the primary markets from the country.
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Finnish stainless steel producer Outokumpu has signed a €400m sustainability-linked term loan, used mostly for refinancing its short term debt, and featuring margin cuts if the company hits targets linked to workplace accidents and carbon emissions. It's a step forward in a leveraged finance market that has so far taken only tentative steps towards sustainability.
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European leveraged finance revenue for the first half of the year is down more than 50%, according to figures from Dealogic released on Monday — and is increasingly going to a small handful of banks, in particular JP Morgan.
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The European securitization pipeline is bulging with 14 deals in the market this week, adding to an already heightened primary market supply on the back of the Global ABS event in early June.
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Santander has closed York 2019-1, a synthetic securitization of loans granted to SMEs and self-employed borrowers, selling not only the junior risk but a BB-rated mezz tranche — an increasingly common approach driven by regulatory changes which kicked in this year.
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