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Helaba promoted from MLA to bookrunner while RBC sits out
Deal was three times oversubscribed
Growing company gets new bank lenders and equity investors
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BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired a new treasurer. -
Suelzle Holding, a German steel maker, has signed a €140m revolving credit facility, as lenders say there are a handful of similar deals in the works for borrowers in the German speaking region.
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UK courts have endorsed gym chain Virgin Active’s restructuring plan, a precedent-setting move which shows that the UK’s new restructuring law with its ‘cross-class cramdown’ feature can be used instead of a CVA to cut debts to landlords. Some claim it represents a further attack on already-struggling landlords, but others argue than having all creditors share the pain at the outset should mean better recoveries if other chains follow this approach.
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Safestore, the UK listed self-storage company, has issued £150m-equivalent of US private placement debt.
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Chinese financial institutions are leading a revival in Asia’s loan market as they take advantage of a shift in market dynamics to tackle their refinancing needs. Borrowers from other industries are also likely to join the action before long — if only to get ahead of a possible US interest rate hike after a rise in inflation, writes Pan Yue.
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The current of interest in sustainability-linked finance entered a new district of the capital markets this week — private equity funds-of-funds. AlpInvest Partners, one of the biggest managers in the market, has signed a $650m facility tied to its environmental, social and governance investment practices. But the deal raises the question of the role of transparency in such financings.
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