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Former investment banker has been CFO of Verbund
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Cineworld announced on Monday it was closing all of its 536 Regal Cinemas in the US and its 127 Cineworld and Picturehouse venues in the UK from Thursday, adding urgency to the company’s search for enough liquidity to see it through the Covid-19 crisis in cinema.
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Friday’s confirmation that the Issa brothers, backed by TDR Capital, had won the auction for UK supermarket Asda, catapulted them into the super league of borrowers in European leveraged credit — the handful of entrepreneurs whose appetite for debt surpasses market appetite to lend to a single capital structure.
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Newlat, the Italian food company, has made an offer for UK bread maker Hovis, as foreign companies continue their push to pick up some of the UK’s best known firms.
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ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has picked six banks for a $700m borrowing.
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Inland Homes, a UK housebuilder, has triggered an accordion clause on a sterling loan to finance extra construction, as lenders say there are signs that companies are using money to invest again rather than firefight the effects of Covid-19.
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The long-awaited Science-Based Targets standard for financial institutions has arrived. It is one of the most ambitious attempts so far to wrest the financial sector from its path towards climate destruction.
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