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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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Huhtamäki, the Finnish veteran of the Schuldschein market, is looking for a five year deal. Several bankers have said many other international issuers are coming as the market emerges from the first phase of the coronavirus pandemic, but they will find market norms have changed. -
JP Morgan and Nomura have started the syndication of the loan backing Bridgepoint’s buyout of French mortgage insurance broker Financière CEP, in a sign that market conditions have improved enough to fire the starting gun on the sale of loans underwritten before the coronavirus crisis shut markets.
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Spain’s Air Europa Lineas Aereas has signed a Covid-19 related crisis loan, becoming the third airline from the country in the last month to get support in the syndicated loan market from the state owned Instituto de Crédito Oficial.
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Turkey’s Garanti Bank has raised a $592.4m-equivalent ESG-linked syndicated loan — the first of its kind signed by a bank. The deal, despite being launched at the beginning of the coronavirus crisis, went successfully, according to bankers, following a string of refinancings by other Turkish banks.
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China’s Hope Education Group is making its debut in the offshore loan market for a $200m borrowing.
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Genting Hong Kong, a cruise ship operator, has sent out a waiver request to lenders to postpone the principal payments on a $300m loan, as it navigates challenges posed by the Covid-19 pandemic.
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