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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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Fosun Industrial Co has returned to the offshore market for a $550m three year senior term loan that will refinance debt taken on for an acquisition last year. -
Fiscal stimulus and economic growth should keep the credit cycle going for another two years, but the weakening of investor protections will damage loan recoveries when the market turns, said panellists at an IMN investors’ conference on CLOs and leveraged loans on Wednesday.
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Tianqi Lithium Corp and CEFC China Energy Co were thrust into the limelight this week after their existing dollar bonds plummeted in the secondary market. Addison Gong reports.
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North Sea oil and gas operator Ithaca Energy cancelled a planned $350m junk bond on Tuesday, citing "market terms and conditions", after it had earlier tightened covenants on the deal.
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US investment manager Barrow, Hanley, Mewhinney & Strauss has hired two portfolio managers to set up a new bank loan fund and to lead the firm’s efforts across sub-investment grade US corporate debt.
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Delaware-based chemicals group Chemours added to the surge of reverse Yankee issuers with a new euro deal this week, as sources report growing interest from non-European bond investors in the currency.
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