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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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The European Commission is being advised to set up a comprehensive Sustainability Taxonomy by 2020 to guide investment decisions towards a greener economy, and to develop an official EU Green Bond Standard. These are key recommendations of its High Level Expert Group on Sustainable Finance, according to a leaked draft copy of its report seen by GlobalCapital. -
US lottery and gaming group Scientific Games International sold its first euro bonds this week, in a European high yield market that bankers and investors described as ready and steady for opposite reasons.
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Private equity firm PAI's divestment of its majority stake in Kiloutou, the French equipment rental firm, is pumping supply into the term loan market this week through a secondary buyout. Meanwhile, PAI is itself funding its leveraged buyout of Albéa, a French beauty product packaging group, with a high yield pay-if-you-can (PIYC) bond.
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CVC Credit Partners has appointed Gretchen Bergstresser to a new role as global head of performing credit, while Jonathan Bowers is to step back from the European business to pursue other opportunities.
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The first issue of 2018 on London Stock Exchange’s Order book for Retail Bonds (ORB) is set to be a dollar offering from Burford Capital, the litigation finance firm.
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Tsinghua Unigroup Co raised $1.85bn from a three-part bond on Thursday that included a last minute 10 year tranche on the back of reverse enquiry. But the chunky issuance size and the lack of ratings meant the borrower offered investors a generous return.
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