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Tight spreads keep Middle East borrowers in bond market, and away from loans
Kazakh bank doubles the tenor to two years compared to previous deals
Tighter margin loan a 'sign of things to come' for infrastructure lending
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Investors in UK universities are struggling to work out just how risky the sector is, as its lucrative international student intake as well as pension liabilities are still unclear. A report published by the Institute for Fiscal Studies (IFS) on Monday estimated that 13 universities may go bust if they do not either carry out debt restructurings or receive government bailouts. -
Swedish alarm firm Verisure is preparing a €1bn refinancing, underlining the move in the leveraged credit market from the tough days of March and April to firmer territory where sponsors can optimise capital structures, not just hang on for liquidity at any price.
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Oman, one of only two junk-rated sovereigns in the Gulf region, is tapping lenders for up to $2bn, as some say it could not find the right conditions in the bond market. According to bankers familiar with the deal, credit risk considerations are foremost and the sovereign will have to pay up to borrow.
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VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has launched a $200m new money loan.
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Oatly, the Swedish company that makes oat milk, has signed a Skr1.925bn (€184m) club loan, on which the pricing can be adjusted if it hits sustainability targets.
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Early September will set the tone for Europe's high grade corporate debt markets, said bankers this week, as only then will the full effects of the coronavirus pandemic be apparent in corporate earnings, and the direction of investment plans be clearer.
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