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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 £4bn take-private of UK aerospace and defence company Cobham by US private equity firm Advent, backed by a £2.5bn debt package, was threatened this week when business secretary Andrea Leadsom ordered an investigation into the deal just after 93% of the shareholders voted to accept the deal. -
A legion of lenders has joined London Stock Exchange Group’s $13.5bn bridge loan for its acquisition of data company Refinitiv, as the London exchange fights off a hostile bid from Hong Kong Exchanges and Clearing that could scupper the acquisition.
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Lai Sun Development, a Hong Kong-listed property developer and investor, has sealed a hugely popular HK$3.6bn ($460m) four year green loan to finance the Hong Kong Ocean Park Marriott Hotel.
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China’s Wolong Electric Group has closed its €150m debut offshore borrowing with 14 lenders.
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Sirius Minerals is in big trouble, and that means big losses ahead for the mainly retail investor base, who saw their shares dive 50% on Tuesday morning. Since the crisis, regulators have strained every nerve to keep complex, risky products out of retail hands — while retail investors have merrily piled into loss-making tech stocks and cryptocurrencies, and gambled on extractive industries. How much protection do they need?
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Germany’s Phoenix Spree has signed a €240m dual tranche term loan, with the UK-listed Berlin real estate investor drawing down the bulk of the new deal.
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