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AfDB hopes to launch multi-issuer securitization this year
◆ French firm takes €700m with unrated deal ◆ Double digit concession needed ◆ Deal prices inside debut, but returns higher yield
Deal liberates capital and tempts investors to take new frontier market risk
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Some traditional arrangers of Schuldscheine, which see themselves as the guardians of the market’s probity, were horrified by the news that Pareto Securities is looking to set up shop on their front lawn. But the sort of companies Pareto is likely to bring will answer the prayers of some investors that the old guard have not. And with it, buyers will have to take greater responsibility for what they stick on their books. -
Lenders unconcerned as recession portents mount — Booking Holdings gets global group for revolver — Pemberton raises €3.2bn more for Europe’s mid-market — Eurotorg re-enters rouble debt market
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Swedish private equity firm EQT is likely to bring its IPO to market before the end of the year, joining a host of high quality European listings.
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Lenders are still talking to UK investment grade borrowers about underwriting sterling debt, but the impending Brexit deadline means any new deals will likely be pushed out to 2020.
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Subway operator Tianjin Rail Transit Group has raised a €200m Schuldschein loan, becoming the first Chinese company to tap this market. Bankers believe similar deals will follow, given the market’s appeal.
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A private debt banker for Lloyds Securities in New York has left the bank, with one source suggesting he will start covering US private placements (US PP) for another arranger.
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