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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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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. -
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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The Asian Infrastructure Investment Bank has approved loans totalling $1.2bn to India and Pakistan to help the two countries combat the Covid-19 pandemic.
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