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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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Far East Horizon, a Hong Kong-listed financial services firm, has returned to the offshore loan market. It is aiming to raise $1.4bn to refinance two deals maturing this year. -
Angus Whelchel, who was global head of private capital markets and a managing director at Barclays, has left the bank, according to market sources.
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Hella, the German car parts maker, has signed a €500m syndicated revolving credit facility, as lenders highlight the sector as one of the most likely to feel long-term economic damage from the coronavirus pandemic.
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Banks leading the acquisition loan for equipment finance firm Boels have increased the size of the distributed portion of the offering and cut the discount on offer, as a strong market backdrop helps clear the hung bridge backlog from before the onset of the coronavirus.
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Emerging market borrowers and lenders still lag developed markets on the transition away from the Libor, with the coronavirus pandemic hampering progress.
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Marcus John, founder and chief executive of Sports Capital Advisors, tells GlobalCapital to expect a wave of insolvencies in national sport leagues but, he believes, sports with global appeal should fare better after lockdowns ease. Whether TV rights, a key source of revenue for major leagues, will be impacted remains unclear.
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