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The Prague-based defence and technology firm attracted 18 institutions into a deal which compressed margins by 150bp
Sleeping SLLs clause enters template as compressed margins make borrowers reluctant to deal with verification costs
First Abu Dhabi joins the syndicate for the short term loan all but equalling the size of a previous revolving facility
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Consciousness of environmental, social and governance factors is snowballing among private debt and equity investors, prompting them to seek new answers to the conundrum of how to obtain adequate ESG information on private companies. Providers are trying to meet the demand, including with innovative products. -
Serco is set to sell US private placements, according to market sources, a rarity from the UK support services since the sector fell into hot water with PP investors a few years ago.
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Royal Bam group, the Dutch construction company, has negotiated a waiver on its loan covenants before they were due to be tested this week. Some loans bankers say that similar agreements are expected to be made across multiple industries for the rest of the year.
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A UK government spokesperson has told GlobalCapital that the UK is exploring ways to support private equity-backed businesses that fall foul of EU rules around state aid. Accredited lenders under the UK government’s emergency corporate loans schemes are rejecting applications by many private equity-backed companies, fearing they do not fit the eligibility criteria.
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JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.
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Thai agro-industrial and food conglomerate Charoen Pokphand Foods is in the market for its third syndicated loan of the year, this time through subsidiary CP Merchandising Co.
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