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Investors pay little heed to alarming worsening of climate
Data centres and energy projects are giving loan bankers that rare experience - a buyer's market
Renamed company's $4.2bn murabaha facility has lifted Saudi banks
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WH Smith, the UK high street retailer, has extended its bank term credit lines and cancelled a crisis liquidity facility, as the borrower posted better than expected trading figures since the start of the year. -
Met Group, the Swiss energy trading company, has signed a €120m term loan, increasing the size of its term debt and using some of the same banks that provided revolving credit facilities last month.
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China’s Guangdong Lingyi iTech Manufacturing Co, a company focused on making magnetic materials, electric motors and electric wires for automobiles, computers and mobile phones, has hit the market for a $150m loan.
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The secondary Schuldschein market, typically something of a backwater, has become a torrent of activity and is now busier than the product’s primary market, according to several sources, as banks rush to buy assets ahead of an ECB deadline for cheap funding on March 31. However, there are fewer banks deleveraging from their risk-weighted assets, and many more buyers than sellers.
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Lone Star is refinancing and pricing the debt incurred for its buyout of BASF Construction Chemicals, one of the bridges hung during the first peak of the Covid crisis a year ago. The original deal required creativity to cross the line, plus a hefty private placement with GSO. Now, however, it looks set to slice up to 100bp off the euro margin, and more from the GSO deal.
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Short sellers get a lot of stick, whether it is Elon Musk taunting them, an army of Redditors squeezing them or the corporations they target otherwise harassing, suing and investigating them. But they play a vital part in capital markets, as underlined by the Greensill affair — where the finance firm’s private status meant that for too long it could hide from the accountability that short sellers can help deliver.
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