Syndicated Loans - All Articles

  • CIE Automotive switches to ESG credit line

    CIE Automotive, the Spanish automotive components company, has signed a €690m syndicated loan, with the borrower switching its main bank line to a facility linked to environmental, social and governance (ESG) measures.

    • 25 Sep 2020
  • Iceland’s Landsvirkjun issues green US private placements

    Icelandic state owned energy company Landsvirkjun has sold $150m of US private placements under its green finance framework.

    • 25 Sep 2020
  • Minth wraps up $200m debut loan

    China’s Minth Group, an auto parts company, has closed its debut loan at a bigger size of $200m.

    • 25 Sep 2020
  • Sofr caps pick up, as Fannie and Freddie force liquidity

    Fannie Mae’s and Freddie Mac’s drive to buy floating rate loans that reference the secured overnight financing rate is charging up a nascent market in interest rate caps that reference the Libor replacement.

    • 24 Sep 2020
  • People moves in brief

    Goldman gives new positions to Marsh, Verri and Sorrell — Bain picks ESG boss — Falth turns up at Mizuho

    • 24 Sep 2020
  • SWFs hot for direct lending as recession strikes Europe

    Sovereign wealth funds from Abu Dhabi and Qatar have started to take ownership positions in new direct lending platforms in Europe and the US. But as Western economies plough into a deep recession, while rival investors still sit on barrels of dry powder, the wealth funds' decision to push into middle market credit now is surprising.

    • 24 Sep 2020
  • Enel’s SDG drive brings contingent CP shelf

    Having issued the first sustainability-linked bond in September 2019, Enel, the Italian power and gas company, has gone further, by setting up a commercial paper programme that will fall away if it fails to hit a sustainability target.

    • 24 Sep 2020
  • Covid dries up Schuldschein debuts

    New research from analysts at Helaba points to a flight to safety in the Schuldschein market over the course of 2020. Rated issuers are making up a bigger share of deals than they have for a decade, and there have been next to no debuts. Schuldschein arrangers hope this conservative trend does not continue into 2021.

    • 24 Sep 2020
  • US big beasts dominate UK broking with different styles

    JP Morgan and Morgan Stanley’s positions at the top of the UK corporate broking rankings have undoubtedly helped their equity capital markets businesses, but Goldman Sachs stands out for its disruptive approach, writes David Rothnie.

    • 24 Sep 2020
  • European banks seek to shorten standard loan maturity to three years

    The standard maturity for European investment grade corporate loans has been reduced from five years to three in the wake of the coronavirus crisis, and senior lenders say they are eager to try and maintain the new shorter maturity.

    • 24 Sep 2020
  • GlobalCapital Asia Awards 2020: now open for submissions

    GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, which recognise the most impressive transactions and investment banks of 2020.

    • 24 Sep 2020
  • Sponsors set to plug funding gap with PIKs as valuations soar

    Payment in kind notes and preference shares will likely play an increased role in new leveraged buyout structures, as sponsors seek to bridge the gap to ever more stretched equity valuations against a backdrop of depressed earnings.

    • 23 Sep 2020
  • Iosco warns of regulatory action over DCM mandate pressure

    Banks may be using their lending relationships with companies to press them into granting bond mandates, the International Organisation of Securities Commissions has warned. This follows the UK Financial Conduct Authority's remarks about similar pressure for equity mandates in April.

    • 23 Sep 2020
  • ‘Society benefits from short sellers’ — Gabriel Grego, CIO of Quintessential Capital

    Gabriel Grego, managing partner and chief investment officer at Quintessential Capital, is known among investors for his devastating critiques of fraudulent companies. A former paratrooper in the Israeli Defence Force, Grego is on what he sees as a moral crusade to sniff out corporate corruption. He is adamant, he tells GlobalCapital, that activist short selling is a force for good in financial markets — and society as a whole.

    • 23 Sep 2020
  • PFC mandates duo for $200m loan return

    India’s Power Finance Corp has mandated two banks for a $200m loan, and bankers expect the firm's government ownership will draw a strong response in syndication.

    • 23 Sep 2020
  • Barings pairs up with Mubadala to target Europe’s mid-market

    Barings is partnering up with Mubadala, the Abu Dhabi sovereign wealth fund, to provide $3.5bn of direct lending to mid-market companies in Europe.

    • 22 Sep 2020
  • New roles for Marsh, Verri at Goldman

    Goldman Sachs has given new titles to leaders in its credit finance, investment grade capital markets and equity capital markets businesses.

    • 22 Sep 2020
  • Bain hires ESG head with energy background

    Bain Capital has hired a new global head of ESG with extensive experience of oil and gas investments.

    • 22 Sep 2020
  • LMA readies robo-doc testing before January platform launch

    The Loan Market Association is about to start testing automated loan documentation. The trade body plans to roll out the new platform by January 2021.

    • 22 Sep 2020
  • Glenmark makes rare appearance for $175m loan

    India’s Glenmark Pharmaceuticals has returned to the loan market after an absence of more than 10 years. It is seeking a $175m deal.

    • 22 Sep 2020
  • Chailease seeks $100m for Thai business

    Taiwan’s Chailease International Finance Corp has launched its fifth loan of the year to the market. It is eyeing up to $100m through its Thailand subsidiary.

    • 22 Sep 2020
  • Mercuria opens $980m loan with Covid premium

    Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

    • 22 Sep 2020
  • Taiwanese banks should hold their ground on loan pricing

    Formosa Plastics Corp is preparing to set a new pricing benchmark with its planned $2bn loan, which bankers reckon could set a record low for a borrower from Taiwan. If the company succeeds, this could set a dangerous precedent for the long-term health of Asia’s loan syndication market.

    • 22 Sep 2020
  • Goldman promotes Sorrell in M&A shuffle

    Goldman Sachs has named new global M&A bosses, with the incumbents moving to become chairs of the business.

    • 21 Sep 2020
  • Pharma is ‘rising star’ in SSDs

    German hospital operator Asklepios Kliniken launched a Schuldschein on Monday with an initial target of €200m. Investors have doubled down on their interest in pharmaceutical firms this year and throughout the pandemic, prompting a substantial increase in the market’s exposure to the sector.

    • 21 Sep 2020
  • FinCEN leak to spark extra due diligence measures from lenders

    The release of thousands of leaked documents over the weekend that implicated major banks in money laundering and sanctions violations has sent a shudder through capital markets. Lenders say they will likely increase due diligence to make sure they are not exposed to further revelations.

    • 21 Sep 2020
  • Ericsson skips debt for $1.1bn US acquisition

    Ericsson, the Swedish telecoms infrastructure manufacturer, has agreed to buy US connectivity company Cradlepoint for $1.1bn using cash on hand, as corporate bankers say cash-rich companies are less inclined to visit debt markets to fund acquisitions after months of frantic debt raising.

    • 21 Sep 2020
  • MasMovil preps bond leg of LBO takeout

    Spanish telecoms group MasMovil is preparing a €720m bond, the second part of the financing for its take-private by Cinven, KKR and Providence Private Equity. Most of the €2.9bn financing came through a loan issue, allocated in July, with the bonds readied following shareholder acceptance for the offer last week.

    • 21 Sep 2020
  • Akbank set to kickstart refi season for Turkish banks

    Despite a plethora of risks for Turkish assets, including the lira hitting fresh lows and both banks and the sovereign facing downgrades, the bi-annual refinancing season for Turkish banks is up and running. According to lenders, Akbank will open the market with a deal likely to close soon.

    • 18 Sep 2020
  • Pimco names new head of European private credit

    Global investment firm Pimco has hired a new portfolio manager and managing director, who will serve as head of private credit in Europe. With this hire, Pimco is looking to bolster its special situations business in Europe.

    • 18 Sep 2020
  • Workspace launches US private placements

    Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.

    • 18 Sep 2020
  • Iberdrola turns to ICO for fourth green loan

    Iberdrola, the Spanish energy company, has signed another green loan from Instituto de Crédito Oficial, months after getting financing from the lender for other renewables projects.

    • 18 Sep 2020
  • Covid-19: sovereign borrowing response

    The Covid-19 pandemic is forcing many governments to expand their borrowing programmes. The table below details the impact of the outbreak on the funding requirements of major sovereign bond issuers.

    • 18 Sep 2020
  • Formosa seeks $2bn, set to create new pricing benchmark for Taiwan loans

    Formosa Plastics Corp is seeking a $2bn loan that bankers expect to be priced at a record low for borrowers from Taiwan, setting a benchmark for future transactions.

    • 18 Sep 2020
  • Credit Suisse launches private credit venture

    Credit Suisse has teamed up with its biggest shareholder to launch a private credit lending platform, bringing to fruition a plan that been beset by delays and high profile departures.

    • 17 Sep 2020
  • Job loss fears rampant as pandemic pummels corporate debt volumes

    Despite the financing that two jumbo acquisitions revealed this week would require, loans bankers fear that with no end to the coronavirus pandemic in sight and entire industries reeling from the fallout of lockdown, their jobs will soon be on the line. Mariam Meskin and Mike Turner report.

    • 17 Sep 2020
  • People moves in brief — September 17, 2020

    García and Gutman given new roles at Goldman — Mizuho hires in convertible bonds — Smida and Coudray handed coverage leadership at Natixis

    • 17 Sep 2020
  • RBC looks for another lift after 10 year build

    RBC Capital Markets’ expansion in European investment banking came in the aftermath of the global financial crisis. A decade on, the coronavirus pandemic has presented it with a very different set of challenges.

    • 17 Sep 2020
  • Nvidia and GardaWorld travel across the Atlantic to swoop on UK companies

    Nvidia, the US technology company, has agreed to buy UK chipmaker Arm Holdings for up to $40bn in cash and shares, while UK security firm G4S is fighting a £3bn hostile bid from Canadian rival GardaWorld, as the coronavirus pandemic brings out buyers.

    • 17 Sep 2020
  • Technicolor completes €330m recap

    French visual effects and digital services company Technicolor has finished a €330m recapitalisation as part of its efforts to exit from bankruptcy proceedings.

    • 17 Sep 2020
  • SSD bankers push back against troubled borrowers

    Schuldschein arranging banks have long claimed to be the market's gatekeepers as far as borrowers looking for access are concerned, rejecting lower quality credits to keep the standard high. As the market expanded in recent years and a richer variety of companies borrowed from it, this became a less convincing claim. But as the coronavirus pandemic rocks Europe, Schuldschein bankers say they have declined several requests from companies from risky sectors.

    • 17 Sep 2020
  • Icelandair share sale imminent after loan finalised

    Icelandair, Iceland’s flag carrier airline, has finalised documentation on a $120m state-backed loan from domestic lenders, which is contingent on the company completing an equity raise.

    • 17 Sep 2020
  • HKBN connects with banks for HK$5bn refinancing

    Hong Kong Broadband Network is enticing banks to a HK$5bn ($645m) loan by offering them a juicier margin than previously.

    • 17 Sep 2020
  • Farrer Park raises Singapore’s first healthcare-linked green loan

    Singapore’s Farrer Park Co has become the latest company from Asia to tap the green loan market, raising a S$200m ($147m) facility from United Overseas Bank.

    • 17 Sep 2020
  • Euro CLOs' most sold loan is Swissport

    Swissport has been by far the most sold asset in European CLO portfolios since March, with €384m out of a €900m facility traded, according to trustee reports and Bank of America research. Managers exited the loan at an average price of 74. In an agreement reached two weeks ago, all secured debt will convert to equity, with unsecured debt extinguished.

    • 17 Sep 2020
  • Aligned brings sustainability-linked loans to data centre sector

    Data centre operator Aligned has closed a $1bn sustainability-linked debt financing, marking the arrival in this industry of a green finance tool that is growing in popularity.

    • 17 Sep 2020
  • Covid can free markets to pursue green recovery

    The Covid-19 pandemic has been a health and economic disaster — but it also creates opportunities, say responsible investing experts. The new environment means financial players can become more ambitious, socially and environmentally.

    • 17 Sep 2020
  • Geox finds fit for ECA-backed loan

    Geox, the Italian shoe company, has signed a €90m export credit agency backed loan, days after the company announced a business restructuring of its North American operations.

    • 16 Sep 2020
  • Beijing Constructions builds $350m loan comeback

    Beijing Construction Engineering Group has returned to the debt market for a $350m term loan.

    • 16 Sep 2020
  • Cathay Pacific seeks consent for extension option

    Cathay Pacific Airways is asking lenders’ consent to exercise the extension option on a 2017 loan.

    • 16 Sep 2020
  • UK’s hand is weak against acquisitive foreigner bidders

    In just a few days, two of the UK’s largest companies have had acquisition offers made for them by North American rivals. Heading into the 11th hour of a still chaotic Brexit process amid the highest national redundancy levels since the global financial crisis will have more foreign buyers circling yet.

    • 15 Sep 2020
  • ‘We are at a historic crossroads': Sir Ronald Cohen calls for impact-weighted accounts

    Sir Ronald Cohen, the venture capitalist who chairs the Global Steering Group for Impact Investment, on Tuesday called on governments to mandate companies to publish impact-weighted accounts.

    • 15 Sep 2020
  • Morningstar to sell PPs for first time

    Morningstar, the US investment research firm, is marketing US private placements for the first time in its 26 year history, according to several sources familiar with the situation.

    • 15 Sep 2020
  • GardaWorld makes £3bn hostile bid for G4S as transatlantic buyers swoop

    GardaWorld, the Canadian security service company, has made a hostile £3bn offer for larger UK rival G4S, marking the second major bid for a UK company from a North American firm in less than a week.

    • 15 Sep 2020
  • BoCom Leasing, Hisense return for loans

    Bank of Communications Financial Leasing has returned to the loan market, inviting banks to join a $300m three year green deal.

    • 15 Sep 2020
  • Wilmar, Swire Pacific raise sustainable financing

    Singapore’s agribusiness company Wilmar International as well as Hong Kong conglomerate Swire Pacific have both raised sustainability-linked loans.

    • 15 Sep 2020
  • Kingspan goes big in grand return to PPs

    Irish insulation firm Kingspan has raised €750m-equivalent in US private placements, in its first green issue in the market.

    • 14 Sep 2020
  • New lenders enter Schuldschein market

    Several sources have told GlobalCapital that a clutch of new investors have entered the Schuldschein market, tempted by higher spreads brought on by the pandemic.

    • 14 Sep 2020
  • Droege, Emmerson to lead Goldman’s mid-market M&A team

    Goldman Sachs has appointed Christopher Droege and Chris Emmerson as co-heads of cross markets and sponsor M&A for Europe, the Middle East and Africa.

    • 14 Sep 2020
  • Nvidia buys Arm for $40bn as tech M&A tipped to fly

    Nvidia, the US technology company, has agreed to buy UK chipmaker Arm Holdings for up to $40bn in cash and shares, marking the largest of a spate of technology M&A as the coronavirus pandemic is expected to keep driving acquisition demand for the sector.

    • 14 Sep 2020
  • Taiwanese companies gauge interest in loans at low pricing

    Three Taiwanese companies are testing bank appetite for new loans, as slow deal flow this year gives them enough ‘bargaining power’ to raise funds at thin margins and fees.

    • 14 Sep 2020
  • ‘We need Joe Rogan to run the Fed,’ says Hugh Hendry, former CIO of Eclectica AM

    Hugh Hendry, the outspoken founder of former macro hedge fund Eclectica Asset Management, told GlobalCapital he sees no evidence for the re-emergence of global macro as a broad and viable investment strategy. Were volatility to rise again, Hendry says he may well get back into the financial fray but the likelihood of that is vanishingly slim.

    • 11 Sep 2020
  • ZF Friedrichshafen weighs up shift in funding away from Schuldschein

    ZF Friedrichshafen, the German car parts maker, is considering moving its focus away from the Schuldshein market, where it is one of the biggest issuers, after finding success selling public bonds this week.

    • 11 Sep 2020
  • BNP Paribas backs up Altice Europe’s €4.9bn take-private bid

    BNP Paribas has provided term loans to Altice Europe, whose founder Patrick Drahi has offered to buy €2.5bn of the shares he doesn't already own to take the French telecoms group private.

    • 11 Sep 2020
  • Virgin Media kicks off autumn session with O2 financing for divi

    Virgin Media started the autumn session in European leveraged finance in style with a five part offering to raise the cash for its joint venture with Telefónica’s O2 unit. The deal underscores how far capital markets have come since the dark days of April, when the £30bn ($38.9bn) mega merger was backed by an investment grade loan to insulate the tie-up from the effects of a prolonged downturn in leveraged credit, reports Owen Sanderson.

    • 10 Sep 2020
  • Deutsche IB head ‘vindicated’ as ECM mandates continue

    A year on from the closure of its flow equity trading business, Deutsche Bank’s investment bank is back in a bullish mood after performing well during the first stage of the coronavirus crisis.

    • 10 Sep 2020
  • Priming pioneer Selecta rows back in restructuring

    KKR-owned vending machine company Selecta was one of the first companies to have its owner inject super-senior ‘priming’ debt once the Covid crisis hit, pushing bondholders down the capital structure. But in its restructuring package laid out on Tuesday, KKR reversed this aggressive move, offering a creditor-friendly proposal that sent the bonds up 11 points.

    • 10 Sep 2020
  • Pertamina to test Indo offshore loan regulation change

    The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.

    • 10 Sep 2020
  • Lending after Libor: critical conventions become clearer

    The European syndicated loan market’s transition from Libor to risk-free rates is gathering pace, with market participants starting to offer a much clearer view on the technicalities that a world without Libor will look like for lending.

    • 10 Sep 2020
  • Tui bondholders agree to KfW rescue loan

    German travel company Tui’s bondholders have agreed to suspend limits on the debt the company can incur, opening the door to a rescue loan from KfW and a convertible bond injection from the German government's economic stability fund.

    • 10 Sep 2020
  • Ellington pair anchor Nassau’s new euro CLO shop

    Connecticut-based Nassau Corporate Credit is starting a European CLO operation led by former Ellington portfolio managers Paul Meloche and Hekeani Mathieu. The new business will buy CLO liabilities from third parties as well as running its own CLOs.

    • 09 Sep 2020
  • Pemberton hires Credit Suisse’s former EMEA head of high yield

    Pemberton, the direct lender and asset manager part owned by Legal & General, has appointed Robert Wartchow as a portfolio manager and managing director.

    • 09 Sep 2020
  • FRV claims Spain’s first Climate Bonds-certified green loan

    Fotowatio Renewable Ventures, the Madrid-headquartered renewables company, has signed the first Climate Bonds-certified green transaction in Spain with a €64m green loan, in a deal expected to make the environmentally conscious market in the country more transparent for lenders.

    • 09 Sep 2020
  • Masan in talks with banks for new loan

    Vietnamese food and beverage company Masan Group Corp is in talks with banks for a new borrowing, planning a return to the loan market after seven years.

    • 09 Sep 2020
  • Minsheng appoints new syndication head

    China Minsheng Bank has appointed Kenny Chik as head of syndication and acquisition finance, replacing Wang Sheau Huei, who has left the Chinese lender, according to a source familiar with the move.

    • 09 Sep 2020
  • Schuldschein reverts to roots after Covid panic

    The Schuldschein market, which has spent the last few years growing increasingly international compared to its domestic origins in Germany, has lost its adventurous streak due to the coronavirus pandemic. Forays into unknown territories with borrowers from new industries are being treated with trepidation and lenders are heading back to what they know best.

    • 08 Sep 2020
  • Europcar restructuring puts state-backed loan in firing line

    Europcar will be a test case for the treatment of government-guaranteed loans during a restructuring, as the French car rental company was among the earliest and largest users of the French state’s corporate support scheme.

    • 08 Sep 2020
  • GSK signs £3.8bn-equivalent of loans tied to RFRs

    GlaxoSmithKlein, the UK pharmaceutical company, has refinanced dollar and sterling loans using risk-free rates, in one of the biggest transactions yet to avoid using Libor as the margin benchmark.

    • 08 Sep 2020
  • Messe Frankfurt celebrates convention restarts with new loan

    Messe Frankfurt, the German trade fair company, has signed a €150m loan facility, as it begins holding physical events again after they ground to a halt in the first half of 2020.

    • 08 Sep 2020
  • MUFG hires corporate banking head in Vietnam

    MUFG Bank has hired Hoang Thi Tuong Khanh as director and head of global corporate banking for Vietnam.

    • 08 Sep 2020
  • China’s CPI Ronghe, Tian Lun Gas return to loans

    CPI Ronghe Financial Leasing, a subsidiary of Chinese state-owned State Power Investment Corp, has returned to the loan market for $150m.

    • 08 Sep 2020
  • Great Wall drives away with bigger $700m

    Chinese car manufacturer Great Wall Motors has increased the size of its loan to $700m-equivalent.

    • 08 Sep 2020
  • Virgin Media targets total takeout of O2 tie-up debt with £5.7bn financing

    Virgin Media has launched the financing for its £30bn merger with Telefonica’s O2 into the market, aiming to clear the full debt requirement for the blockbuster deal in a single hit. Announced on Monday were benchmark nine year term loan 'Bs' in dollars and euros, but the package also included a term loan 'A' and bonds, typically launched later to reflect their shorter execution time.

    • 07 Sep 2020
  • Icelandair gets final approval for vital loan

    Icelandair, the flag carrier airline of Iceland, has gained the final major approval it needs for a government-backed loan, setting up the company for an imminent share sale and loan funding totalling about $247m-equivalent.

    • 07 Sep 2020
  • CNCB to repay debut loan after covenant waiver struggles

    CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.

    • 07 Sep 2020
  • Kaisa returns for HK$4bn construction loan

    Chinese real estate company Kaisa Group Holdings has launched a HK$4.015bn ($518m) loan to support the construction of a residential building in Hong Kong.

    • 07 Sep 2020
  • Direct lender Alcentra appoints new CEO

    Alcentra, the European subsidiary of BNY Mellon Investment Management, has appointed a new CEO. David Forbes-Nixon will step down to focus on his investment responsibilities.

    • 06 Sep 2020
  • Garanti BBVA loses funding director

    Turkish lender Garanti BBVA has lost a director in its funding department.

    • 04 Sep 2020
  • Corporate banker Hiley leaves Barclays

    Wayne Hiley has retired from his position of head of UK debt structuring in Barclays’ corporate banking division.

    • 04 Sep 2020
  • Muzinich promotes Greil Castro to co-head of public markets

    Tatjana Greil Castro has been promoted to co-head of public markets at Muzinich an investor in corporate credit.

    • 04 Sep 2020
  • Swissport debt restructuring thin end of the wedge, say bankers

    Corporate debt bankers say that the comprehensive restructuring and refinancing package agreed between baggage handler Swissport and its creditors is “just the beginning”, with a growing number of companies expected to restructure their debts as the Covid-19 pandemic drags on.

    • 04 Sep 2020
  • SMI builds bigger loan of $700m

    Indonesian company Sarana Multi Infrastruktur (SMI) has increased the size of its loan to $700m after seeing strong traction from banks during syndication.

    • 04 Sep 2020
  • Mercuria makes annual loan return, offers Covid premium

    Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

    • 04 Sep 2020
  • NewOcean to extend payment for 2016 loan

    NewOcean Energy Holdings is seeking consent from banks to postpone a principal payment on a $150m loan signed in 2016.

    • 04 Sep 2020
  • Pertamina shortlists six for up to $3bn acquisition loan, faces regulatory uncertainty

    Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

    • 04 Sep 2020
  • Senior ANZ loans banker Roberts to retire

    Carl Roberts, head of loan syndication for south and southeast Asia at ANZ, is retiring after nine years with the Australian bank.

    • 04 Sep 2020
  • Debt funds under scrutiny over redemptions

    Market observers believe that investors in open-ended debt funds need to be disincentivised more than they are at present from scrambling to liquidate their holdings in a market downturn.

    • 03 Sep 2020
  • Diversification tops Egypt agenda for debut syndicated loan

    The Arab Republic of Egypt — a frequent bond issuer — has signed its first syndicated loan. Egypt’s debut in the market, bankers said, is an attempt to diversify its funding to support an expanding state budget, just months after its debut green bond was delayed due to Covid-19. Mariam Meskin reports.

    • 03 Sep 2020
  • Schuldschein lenders sniff danger in auto sector

    Once Schuldschein market darlings, auto parts suppliers are beginning to look to lenders like they may be in distress. Some fear a wave of credit restructurings on the horizon, when the market's lean documentation standards are likely to be tested.

    • 03 Sep 2020
  • People moves in brief

    Ex-Barclays banker joins Finsbury to develop equity advisory — Laubjerg hired for natural resources at HSBC — Rousseau leaves Deutsche and joins Citi

    • 03 Sep 2020