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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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Global investment banks should be able to withstand stress in the leveraged finance market, according to a Moody’s report published on Tuesday, thanks to lower pipeline limits and smaller deal sizes than pre-crisis. This was borne out during the fourth quarter of last year, when few banks were caught offside despite a slump in loan prices.
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Analysts expect the African National Congress (ANC) to win South Africa's general elections next Wednesday. Although a number of deep-rooted domestic problems have the potential to throw the country into an economic crisis, bankers expect FIs to remain "safe" in the worst of scenarios.
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Thomas Mathieson has joined Credit Suisse from NatWest Markets, to head up special situations and loan trading.
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Irish Residential Properties Reit (Ires Reit) has refinanced and enlarged its revolving bank debt, with the residential retail accommodation investment trust agreeing an up to €600m facility with lenders.
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Abu Dhabi’s sovereign wealth fund, Mubadala, has refinanced a $1.75bn loan, increasing it to $2bn after receiving heavy oversubscription.
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UK security and outsourcing company G4S has sold roughly $350m of US private placements with seven and 10 year maturities, as the market shows it still has an appetite for UK support services.
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