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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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Chenavari Investment Management’s Toro Fund said in a recent update to investors that it was unwinding its leveraged loan warehouse, in contrast to other CLO fund managers and equity investors that have pushed out deals and begun to reopen the market. -
The UK’s Vitec Group, which provides camera and recording equipment, has renegotiated the covenants on its £165m revolving credit facility, in a growing trend that loans bankers expect to continue until the coronavirus pandemic eases.
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Synlab, a medical testing firm owned by Cinven, is looking to push out its debt profile, amending and exchanging bonds and loans due 2022 to a loan with a 2024 maturity. It is the first flicker of life in the European primary leveraged loan market since the coronavirus crisis hit.
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Jacques Callaghan, formerly of Macquarie Capital, has joined HSBC as head of UK mid-market M&A, concentrating on a wedge of companies that are important to the bank’s new strategy.
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Citi has promoted Prosenjit Saha as head of loan sales for Asia Pacific, a newly created position at the bank.
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Luxshare Precision, a Chinese designer of cable assemblies, has launched a $500m loan into syndication, hiking up the margin on offer due to changing market conditions caused by Covid-19.
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