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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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Hexaware Technologies, an Indian software company majority owned by Baring Private Equity Asia, has mandated nine banks for a $600m take-private loan. -
Eurocontrol, the Belgium based European aviation trade body, has signed a €272m term loan, with the money earmarked for providing liquidity to the aviation industries of member states that have been hit hard by the coronavirus pandemic.
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Chinese property company Agile Group Holdings has launched a HK$3.242bn ($418m) refinancing loan into syndication.
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Short sellers who for years have complained that BaFin, the German financial markets regulator, ignored their criticisms of Wirecard, the collapsed payments company, and instead prosecuted the critics, have begun to be vindicated with the news that the European Securities and Markets Authority (ESMA) has opened a review into the organisation. By Silas Brown.
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The US Alternative Reference Rates Committee (ARRC) has updated its reference rate guidance for the move away from dollar Libor that removes the need to get a lending syndicate’s consent. But trade bodies on both sides of the Atlantic do not agree on the details, writes Mike Turner, and some lawyers claim that major issues still need to be addressed before the ARRC-recommended method can work.
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Iberdrola and Copenhagen Infrastructure Partners signed separate loans to develop renewable energy projects in Spain, as analysts say renewable energies are now cheaper for consumers than their fossil fuel counterparts in major markets.
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