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Former investment banker has been CFO of Verbund
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ZF Friedrichshafen, the German car parts maker, is considering moving its focus away from the Schuldshein market, where it is one of the biggest issuers, after finding success selling public bonds this week. -
BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi has offered to buy €2.5bn of the shares he doesn't already own to take the French telecoms group private.
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Virgin Media started the autumn session in European leveraged finance in style with a five part offering to raise the cash for its joint venture with Telefónica’s O2 unit. The deal underscores how far capital markets have come since the dark days of April, when the £30bn ($38.9bn) mega merger was backed by an investment grade loan to insulate the tie-up from the effects of a prolonged downturn in leveraged credit, reports Owen Sanderson.
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A year on from the closure of its flow equity trading business, Deutsche Bank’s investment bank is back in a bullish mood after performing well during the first stage of the coronavirus crisis.
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KKR-owned vending machine company Selecta was one of the first companies to have its owner inject super-senior ‘priming’ debt once the Covid crisis hit, pushing bondholders down the capital structure. But in its restructuring package laid out on Tuesday, KKR reversed this aggressive move, offering a creditor-friendly proposal that sent the bonds up 11 points.
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The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.
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