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Former investment banker has been CFO of Verbund
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Sanofi, the French pharmaceutical company, has signed €8bn of sustainability-linked syndicated loans, while Italian natural gas distribution company Ascopiave has completed its own deal using the structure.
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Direct lender Alcentra has raised €557m for its second European fund focusing on stressed and distressed debt. AlbaCore closed a new disclocation fund with $1bn of commitments this week, too. Both aim to tap into companies that have fallen down the credit spectrum during the pandemic.
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Two European borrowers are looking to reprice leveraged loans tighter for the first time since the coronavirus crisis hit, underscoring the market’s strong tone following its recovery. Groupe CEP, a French insurance broker, was one of the first post-pandemic loan deals to break cover in early June, when the market still wanted to see some spread on new facilities.
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The battle for the UK security firm G4S is entering its final phase, with initial hostile suitor GardaWorld potentially upping its offer after Allied Universal said it had agreed to buy the target company for £3.8bn.
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Two Chinese borrowers, Beijing Construction Engineering Group and CPI Ronghe Financial Leasing, have closed syndication for their loans.
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CPI Ronghe Financial Leasing, a subsidiary of Chinese state-owned State Power Investment Corp, has increased its loan size to $250m.
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