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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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Russian steelmaker Metalloinvest has secured a $350m credit line from international lenders. Metalloinvest is the second Russian corporate to tap international lenders since fresh sanctions were announced against Russia by the United States.
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UK gym chain Virgin Active’s restructuring could set a precedent for restructurings of UK retailers. Dozens of retailers have used ‘CVA’ processes to cut their debt burdens, which typically hits their landlords hard but leaves other creditors unscathed. Virgin Active is instead using the new UK ‘super scheme’ restructuring law introduced last year to try to bind landlords and other creditors alike into accepting writedowns.
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Sovcomflot, the majority state-owned Russian shipping company, defied some market participants' expectations on Tuesday by coming to market to raise dollar debt just days after a fresh wave of US sanctions on Russia.
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European loan bankers were wildly optimistic for their hopes for deal flow in the first quarter, after a new survey from the European Central Bank shows that loan demand was 40% less than expected.
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Hong Kong-listed ESR Cayman, a logistics real estate company, has raised a $400m dual-tranche borrowing.
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Ping An International Financial Leasing, a wholly-owned subsidiary of China’s Ping An Group, is casting a wide net for its $500m loan comeback, in a bid to diversify its financing sources — and its banking relationships.
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