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The period since March has been a turbulent time for financial markets, and the CLO sector in Europe dealt with a complex set of disruptions when the pandemic arrived this spring. From sudden and acute stress at the corporate level, to an unprecedented shift in working conditions, CLO players in Europe experienced uncertainty not seen since the last crisis. Yet, the market has adapted, and while the shape and size of deals may be different, CLOs in Europe are pushing ahead. BNY Mellon and GlobalCapital gathered market experts to discuss the present state of the European CLO market and its prospects.

Unibail-Rodamco-Westfield (URW), one of the largest owners of shopping malls in the world, is considering a large rights issue to reduce its leverage as the retail industry grapples with the economic fallout of the global Covid-19 pandemic.

Kommunalbanken has raised its borrowing requirement for the year back to its initial target as a result of a strong performance in the Norwegian Krone over the summer.

China’s Anton Oilfield Services Group’s dollar bond has plunged in the secondary market following a profit warning from the company.

JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.

China Huiyuan Juice Group has once again failed to make coupon and principal payments on a $200m bond.

Thai agro-industrial and food conglomerate Charoen Pokphand Foods is in the market for its third syndicated loan of the year, this time through subsidiary CP Merchandising Co.

Mahindra and Mahindra Financial Services has raised Rp30.9bn ($412.4m) after wrapping up an oversubscribed rights issue.

Ant Group has picked two large Chinese securities houses as advisors for the China leg of its dual listing in Hong Kong and Shanghai. The duo are also likely to be the sponsors for the much-anticipated deal.

Troubled Chinese property developer Tahoe Group, which has revealed a plunge in revenues and big losses for the first half of 2020, has defaulted for the fourth time in just 40 days.

Nongfu Spring, a Chinese bottled water and beverage company, has kicked off pre-deal investor education for its Hong Kong IPO.

China’s local government financing vehicles (LGFVs) have seen strong appetite for their dollar bonds recently, allowing them to price deals at new lows, as a combination of attractive returns and expectations of state support amid Covid-19 wins over investors.