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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
Divisions deepen over multilateral development banks’ climate commitments
Deal rules and slow primary market make ramping up deals difficult
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The first results are emerging from the worldwide drive to get companies to think about how climate change is going to affect their businesses. Over 40% of the world’s biggest firms are now able to give an estimate of how much they expect to lose and gain. Collectively, they forecast twice as much upside as downside. But this may be optimistic, especially as the data are skewed to financial services.
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JP Morgan has appointed Xavier Bindel as co-head of technology investment banking for Europe, the Middle East and Africa, as it seeks to improve its capabilities in a brisk area of business.
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Bayer’s sale of its animal health unit ought to help a leveraged loan market where supply is still running short of last year’s total — and help loan investors compensate for M&A deals that have dropped out of this year’s pipeline.
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French pharmaceutical firm Ipsen is holding a roadshow for possible US private placement notes this week, according to market sources.
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Redexis, the Spanish natural gas distribution company, is making its first step into sustainability-linked borrowing, while amending and extending its revolving credit facility.
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Société Générale has hired a new head of M&A for France, replacing Alexandre Courbon. Two bankers have also been appointed to lead the diversified industries sector.
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