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Market stress so far confined to consumer credit and SMEs across region
Utilities metering company could refinance Schuldschein in coming months
Tight spreads keep Middle East borrowers in bond market, and away from loans
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VPBank Finance Company, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, is in talks with banks for a new loan. -
Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.
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High yield and leveraged loan spreads have widened in the last few days, as news of the coronavirus outbreak has worsened. But neither that, nor new figures from Moody's showing downgrades outnumbering upgrades, is putting off investors long used to hanging on through gritty conditions. Chemical producer Inovyn managed to complete a €1.064bn loan amend-and-extend on Tuesday.
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Adani Group, the Indian conglomerate founded by Gautam Adani, is considering a non-deal roadshow to Schuldschein investors, as Western private debt markets gain ground with companies in Asia.
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Ascential, the UK media and events company, scaled back lenders after its £450m-equivalent bank line refinancing was oversubscribed.
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Russian nickel and palladium producer Norilsk Nickel has refinanced an existing facility and in the process has increased the size of the deal and shaved the margins. According to bank lenders, the deal is one of many expected to enter the market by Russian borrowers seeking to obtain more attractive terms amid a drought in activity.
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