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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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GlobalCapital has launched a deal tracker for the Schuldschein market during the pandemic, for readers to follow primary issuance in the private debt market.
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Dutch port operator Royal Boskalis Westminster has refinanced a €500m revolving credit facility, as analysts warn that the coronavirus pandemic could see world trade plunge by as much as 34%.
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Vesuvius, the UK listed ceramics engineer, is marketing a US private placement, according to market sources.
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Official financial lifelines to keep UK companies alive through the coronavirus pandemic are already having a tangible effect. Shares in Redrow, the UK housebuilder, rose 7.5% on Thursday morning after it announced it had been approved to borrow up to £300m from the Bank of England’s commercial paper facility for investment grade companies.
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The International Private Equity and Venture Capital Valuation Guidelines (Ipev) body has warned funds to take special care over quarter-end reporting and valuation of portfolios, so that marks for sponsor-owned companies reflect as well as they can the devastation of the coronavrius pandemic, rather than the benign conditions prevailing at the start of the year.
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The European Bank of Reconstruction and Development told GlobalCapital that alongside providing €1bn of emergency short-term funding, it is also considering debt repayment extensions for existing clients amid the coronavirus crisis.
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