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Former investment banker has been CFO of Verbund
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The Italian arm of Fiat Chrysler Automobiles has signed a €6.3bn credit facility with backing from a state agency, months after the embattled car maker signed a multi-billion euro bridging facility. -
Intu Properties, the UK shopping centre owner, is set for collapse as it looks to call in administrators following failed discussions with lenders around debt standstills. Some fear the effects could ripple across the struggling retail sector.
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CNQC International Holdings, a real estate developer, is tapping the Hong Kong market for a $150m club loan
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A worsening in credit conditions has squeezed some borrowers across EMEA out of syndicated loans and into the bilateral market. As syndicated loans bankers face another year of disappointing figures, market players are split over whether this trend will leave a more permanent dent in volumes. Mariam Meskin and Jon Hay report.
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Stricken German payments firm Wirecard has filed for insolvency, its management said on Thursday, a week after auditors refused to sign off its accounts. The move has surprised some of its lenders, who said talks to renew roughly €2bn worth of loans were proceeding until Wednesday night.
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Private debt blossomed after the last financial crisis, as European companies grew more sophisticated and sought to diversify their funding strategies away from bank loans and bond markets. But the coronavirus has highlighted its shortcomings, particularly around speed of execution. It may be hard to regain the momentum.
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