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Former investment banker has been CFO of Verbund
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As CLO spreads have rallied towards pre-Covid levels, some CLO managers have come to market with their second new issues since the pandemic first hit, taking advantage of loan prices still largely under par to ramp new issues quickly. But the new landscape is missing some of the market’s most well-known managers, and there’s a stubborn tail of pre-Covid warehouses still to shift. -
Bank of America has promoted Jeff Tannenbaum, its head of debt capital markets and leveraged finance EMEA, to head of global capital markets for the region.
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Trade and Development Bank and Standard Bank, have approached lenders to raise syndicated loans, despite the sort of price widening that has pushed many borrowers away from the loan market this year.
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Schuldschein lenders are gearing up for a wave of borrowers to tap the market this month, looking to capitalise on mounting piles of investor cash.
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Eureden, a French food co-operative, has signed about €550m of sustainability linked loans, with part of the money earmarked for acquisitions.
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Leveraged loan liquidity in the European market has improved this year, with two-way flows resuming rapidly after the spring nadir of the Covid-19 crisis, and sufficient market depth to shift large portfolios. CLO managers are taking advantage, speeding up their time to market and time to ramp deals.
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