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Former investment banker has been CFO of Verbund
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Ericsson, the Swedish telecoms infrastructure manufacturer, has agreed to buy US connectivity company Cradlepoint for $1.1bn using cash on hand, as corporate bankers say cash-rich companies are less inclined to visit debt markets to fund acquisitions after months of frantic debt raising. -
The release of thousands of leaked documents over the weekend that implicated major banks in money laundering and sanctions violations has sent a shudder through capital markets. Lenders say they will likely increase due diligence to make sure they are not exposed to further revelations.
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Spanish telecoms group MasMovil is preparing a €720m bond, the second part of the financing for its take-private by Cinven, KKR and Providence Private Equity. Most of the €2.9bn financing came through a loan issue, allocated in July, with the bonds readied following shareholder acceptance for the offer last week.
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Despite a plethora of risks for Turkish assets, including the lira hitting fresh lows and both banks and the sovereign facing downgrades, the bi-annual refinancing season for Turkish banks is up and running. According to lenders, Akbank will open the market with a deal likely to close soon.
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Global investment firm Pimco has hired a new portfolio manager and managing director, who will serve as head of private credit in Europe. With this hire, Pimco is looking to bolster its special situations business in Europe.
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Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.
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