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Non-bank lenders seem more confident than banks in the short term
New facility smaller than the original but 20% larger than the launch amount
In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
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The UK’s Endava has signed a new £200m-equivlanet multicurrency facility, with the software development company swapping a bilateral loan for syndicated lending. -
Nigeria’s Seplat Petroleum is in advanced staged talks for an around £382m cash acquisition of London-listed Eland Oil & Gas, with the buyer partly financing the deal with a new loan.
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Turkey’s banks have begun their second refinancing season of the year, though increasing political uncertainty, which has led to new US sanctions on Turkey, could potentially jeopardise primary and secondary pricing levels for the borrowers, according to bankers.
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China Lesso Group has increased a four year borrowing to around $1.1bn, after attracting 16 lenders during syndication.
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BAC International Bank has returned to the loan market, seeking $100m from a global syndicate.
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Macquarie Capital has hired UBS banker Vincent Repaci to head a new asset-based lending group to cover sponsor clients, supporting LBOs, refinancings and restructurings. He joins three other recent senior hires in leveraged credit at the firm.
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