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Former investment banker has been CFO of Verbund
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Deutsche gives Toomey position as head of new group — Gimpel leaves Citi, has fintech idea — Moelis hires Whelchel for private capital team
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Deutsche Bank has appointed Diarmuid Toomey head of its newly created strategic capital markets group, which will combine leveraged finance, structured equity and equity-linked products, according to a memo seen by GlobalCapital.
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Europe’s loan bankers are worried that record levels of corporate credit downgrades will lower the credit quality of their entire loan portfolio, ramping up capital demands and potentially putting a squeeze on credit availability.
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Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.
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UK pub companies with secured debt structures have moved swiftly to cut costs and secure covenant waivers, but longer-term social distancing and a slow reopening could push them into equity raises and debt restructurings, according to two specialists involved in many of the pub deals.
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Singapore’s CapitaLand has become the first company to raise a loan benchmarked against the Singapore overnight average rate (Sora), as the market prepares for a transition away from Libor and the country’s equivalent, the Singapore dollar swap offer rate (Sor).
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