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Software loan sell-offs and the Iran war have caused US and European loans to price differently
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity
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Moody’s has torn up one of the shibboleths of the Schuldschein market — that its borrowers are worthy of investment grade ratings. On Wednesday, the rating agency said a number of borrowers from the car parts sector were overleveraged and not profitable enough. Investors appear to share these worries, but the Schuldschein market offers them little protection and there is no reliable secondary market for them to sell into.
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Sipartech, the French fibre optic infrastructure company, has signed a €180m syndicated loan that will pave the way for the company to invest “massively” over the next three years. -
Vietnamese education company Nguyen Hoang Group is making its offshore loan debut with a $62m deal.
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Chinese company Sany Heavy Industry Co has returned to the offshore loan market after a nine-year absence for $600m.
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Lenders have shown that they are incapable of maintaining the integrity of sustainability-linked loans by signing a £1.1bn ‘sustainability-linked’ facility without having agreed key performance indicators.
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Virgin Media Ireland is looking for €900m of loans, which will have margins linked to specific KPIs, following the Virgin Media/O2 merger in the UK.
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