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Former investment banker has been CFO of Verbund
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Weir Group, the UK engineering company, has signed bank lines totalling $1.19bn, but amid coronavirus-related market volatility, banks required a higher margin than on the deal being refinanced.
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After discussions with US private placement holders, French food services company Sodexo has said it will repay roughly $1.6bn of debt early. Four market sources said this was the largest corporate early repayment of US PPs of all time. Some fear a growing disconnect between institutional investors and companies over financial covenants, and attempts to amend them.
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Agile Group Holdings, a Chinese property company, is planning to launch a HK$3.242bn ($418m) refinancing loan into general syndication in early July.
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Chinese property developer Country Garden is in the process of finalising the bookrunner group for a $1.5bn loan, with bankers already confident the deal will see strong interest from lenders.
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DFS Deutsche Flugsicherung, the German air traffic controller, launched a Schuldschein deal on Monday, on the hunt for at least €250m.
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Morgan Stanley has hired Alessandro Mazza as a managing director in its leveraged finance business in Europe.
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