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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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Thames Water’s latest crop of holding company private placement debt issues contains language to protect investors from the effect of a Labour government — and particularly leader Jeremy Corbyn's vow to renationalise the water companies. Debt issued under the new documents features a ‘nationalisation event’ that would make it repayable immediately. Owen Sanderson and Silas Brown report.
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The Port of Rotterdam has signed a €300m sustainability-linked bank facility, as loans bankers say they have seen an influx of mid-market deals for around that amount in recent weeks.
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Teva Pharmaceutical Industries has completed a $2.3bn loan syndication, to replace a $3bn revolving credit facility.
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Macquarie Capital is hiring a UK co-head, as well as a head of leveraged finance for Europe, the Middle East and Africa.
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CCB Financial Leasing, a subsidiary of China Construction Bank, has returned to the syndicated loans market after a four year absence.
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Turkey’s export-import bank Türk Eximbank has become the latest Turkish bank to refinance, joining Akbank and Ziraat bank. The deal was oversubscribed, and received enough demand to add two new tranches.
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