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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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The UK's Imperial Brands, formerly Imperial Tobacco, has signed a new €3.5bn three year multi-currency revolving credit facility, slightly increasing its main bank line, despite not having plans to draw down. -
The loans market has been one part of the capital markets that has perhaps unsurprisingly taken to working from home easier than most. Some loans bankers even see a world after the pandemic where one or two days a week working out of the office becomes the norm.
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London-listed Russian steel firm Evraz has raised a syndicated loan with lenders honouring the pricing terms agreed before the outbreak of coronavirus that has wreaked havoc in markets.
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Standard Chartered’s announcement that it was allocating $1bn to help companies deal with coronavirus, or transition towards making essential medical kit, makes a virtue of doing what most banks are up to anyway. There’s nothing wrong with a bit of good news in these troubled times, but Stan Chart’s competition might feel they’ve missed a trick.
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Whitbread, the UK hotel and restaurant company behind Premier Inn, has amended a clause in its debt documentation which could have left it liable for technical default. One source said several companies may have to go through a similar amendment process.
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Logan Property Holdings has joined a few Chinese real estate companies in the offshore loan market, seeking a HK$2bn ($258m) borrowing.
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