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Former investment banker has been CFO of Verbund
◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
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Cairn Capital, the alternative credit asset management firm in which Mediobanca has a majority stake, has agreed a deal to buy and merge with Bybrook Capital. -
The University of Manchester has signed a £250m revolving credit facility, following up a recent private placement covenant amendment with new debt to mitigate coronavirus pandemic risks.
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Leveraged loan repricings are underway, taking a cue from Europe’s CLO market, where a wave of refi and reset activity has broken out with senior tranches now back to pre-pandemic levels.
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Intermediate Capital Group, the UK alternative asset manager, has signed a £500m revolving credit facility based on Libor, but with provisions to change to risk-free rates when the old benchmark falls out of use.
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Met Group, the Swiss energy trading company, has signed €915m of short term loans, reducing its facility for the first time for years, after ABN Amro, one of its main lenders, pulled out of this kind of financing. Met found two other banks to replace ABN but wanted to focus on price with the deal, rather than size.
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Singapore’s ride hailing start-up Grab Holding has further increased the size of its term loan B to $2bn following solid traction in the US market.
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