Financing for Carlyle’s purchase of Flender, a turbine gearbox manufacturer, could set a precedent for leveraged finance, which has lagged behind other debt markets in adopting instruments linked to environmental, social and governance conditions.
The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers.
Apax Global Alpha, a UK investment trust, has amended the terms on its €140m revolving credit facility.
Biogroup LCD is planning to refinance its full capital structure and tap the bond market for the first time after a string of recent debt-funded acquisitions.
Düsseldorf Airport has completed a €250m German state backed loan, with debt market participants expecting Hamburg Airport to follow suit after being forced to pull its Schuldshein deal last week.
The ECB's attempts to curb leveraged lending are damaging, inconsistent, and come at exactly the wrong time
Fidelity International has hired a team of 10 private credit specialists from MeDirect Bank, in its first foray into European private debt.
Provident Square, a shopping mall in the North Point area in Hong Kong, is seeking a HK$1.4bn ($180m) loan for refinancing.
Many EU companies could do with capital beyond bog standard debt, according to the Association for Financial Markets in Europe (Afme). The trade body, in a report it produced alongside PwC, suggests encouraging the use of equity-adjacent products to fill balance sheet gaps from the coronavirus crisis.
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SMBC Nikko wants to grow its capital markets and advisory business in EMEA, which is smaller than its parent’s heft in the loan market. It has hired Anthony Bryson, a former NatWest Markets and BNP Paribas banker, to lead the push.
German software company TeamViewer launched an inaugural Schuldschein deal on Monday, with margins linked to its ESG performance. Five new borrowers have entered the Schuldschein market so far this year, almost half as many as appeared throughout the whole of 2020.
Aedifica, the Belgian-based healthcare property investment company, has launched a US private placement, according to market sources.
Lidl, the Germany-headquartered budget supermarket chain, has entered the syndicated loan market to raise cash from Asian lenders for a second time, according to market sources.
Eurostar, the majority French-owned train service between the UK and Europe, has asked the UK government for bailout loans. The request came as 28 senior businesspeople in the UK wrote an open letter warning that the rail service was fighting for its survival.
The senior syndication stage for a $140m-equivalent loan to support TPG and Northstar Group’s acquisition of a majority stake in Japfa’s southeast Asian dairy business is set to close by the end of this week.
One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.
One of the world’s largest commodity traders, Trafigura, has launched a Schuldschein which, due to its credit profile and intended yield, is a clear outlier. While some see the borrower as too risky for this market, others see it as a sign of the Schuldschein's growing ambition.
Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors.
KBC Bank has hired fintech firm Finastra to help in the transition away from Libor, as the shift from the scandal-hit benchmark intensifies before it falls out of use at the end of the year.
Saudi Arabia has secured an export financing agreement with Korea’s export credit agency and trade insurance corporation. The deal, which will bolster trade between the two, is the kingdom’s second ECA-backed deal.
ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has decided to cancel general syndication for its $700m loan after the bookrunners found enough liquidity during a senior stage.
Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent
Digital Colony, which invests in mobile and internet infrastructure, has hired Latifa Tefridj-Gaillard as head of Europe capital formation.
Bankers are betting on a strong year for the UK — Europe’s biggest fee pool — but the overlapping concerns of Brexit, Covid-19 and regulation make for an uncertain outlook, writes David Rothnie.
Austrian paper and packaging firm Mayr-Melnhof Karton, called MM Karton for short, has launched a Schuldscheine, with an initial target of €300m.
Energean, the London-listed oil and gas company, has signed a $700m loan to develop a gas field off the shore of Israel, as the company enters the final stretch in having the field up and running.
Schroder UK Public Private Trust, an investment trust, has extended its sterling bank line, as loans bankers said they are seeing a steady stream of amend and extend requests from borrowers.
Loans bankers in Asia are battening down the hatches, faced with a small deal pipeline and little visibility on better market conditions. While some respite may come their way after the Chinese New Year holiday, bankers are uncertain about the way forward for the syndication business. Pan Yue reports.
Singapore-listed palm oil company First Resources is tapping the loan market for a $150m-equivalent dual-currency deal.
Happy New Year to all Notebook readers! Although frankly, the lockdown restrictions, US democratic backsliding and unflappable markets make it feel like we never left 2020 behind.
The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.
Financing for Carlyle’s purchase of Flender, a turbine gearbox manufacturer, could set a precedent for leveraged finance, which has lagged behind other debt markets in adopting instruments linked to environmental, social and governance conditions. Other issuers are sure to follow, but the market may have to solve other challenges before this can become a market standard.
Singaporean ride-hailing company Grab Holdings has boosted the size of its term loan B after receiving a strong response from the market, setting the stage for more Asian start-up firms to head to the US for financing.
The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.
Fidelity International has hired a team of 10 private credit specialists from MeDirect Bank, in its first foray into European private debt.
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