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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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A study presented to the European Commission on competition in European loan syndication found no evidence of collusion and no need for further investigations. Indeed, for most bankers, the balance of power seems so tilted to borrowers that it has helped erode deal documents and yields in recent years. -
There is some evidence of investors in the European corporate bond market becoming more price-sensitive this week, with some books shrinking in response to spread tightening. But it is not enough to make hard-pressed investors feel relieved.
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Macquarie Capital is hiring a UK co-head, as well as a head of leveraged finance for Europe, the Middle East and Africa.
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Chinese internet data centre provider 21Vianet Group raised a $300m note on Tuesday after bondholders agreed to tender over half of an old $300m bond that will become puttable in a few months.
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Barclays on Monday priced a reset for a 2012 CLO managed by Carlyle Group, extending the deal with a new five year reinvestment period and stated maturity of 2032.
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After issuing a £500m seven year bond in March, Glencore repeated the performance, this time in the euro market. It issued a €500m 7.5 year bond that achieved a similar book size and price tightening. Telecom Italia also issued for the second time this year, after losing its Fitch investment grade rating on Friday.
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