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Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
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Irish packaging company Smurfit Kappa has tapped its €600m 2.875% 2026 issue, its most recent high yield issue, on Wednesday for another €400m to pay back a big chunk of its securitization financing. -
Sixteen companies, all leading green bond issuers, have formed a Corporate Forum on Sustainable Finance. Electricité de France was the prime mover. Xavier Girre, chief financial officer of EDF, tells GlobalCapital why the group is needed, why he supports a green supporting factor and how EDF’s sustainable finance strategy is developing.
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The Channels Island’s International Stock Exchange, now rebranded TISE, gained recognition from the US Securities and Exchange Commission (SEC) on Thursday, easing a potential pain point for issuers listing securities on the venue.
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Heavyweight debt collector Intrum reflected on a very active period of investments in its fourth quarter results, as banks continue to use it when dealing with legacy assets. But analysts questioned its refinancing abilities.
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Syndicated lending volumes in the EMEA region are down 75% from last year to record their worst January in five years, and senior loans bankers say the rest of the year is unlikely to get much better.
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Getty Images launched a refinancing of its capital structure on Thursday, the company’s first capital markets outing since the Getty family regained control of it last September. An investment vehicle controlled by conservative activists the Koch brothers was willing to commit $500m of preferred PIK equity last year, but the refi of the debt stack had to wait for market conditions to improve.
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