Syndicated Loans - All Articles

  • Science-Based Targets prove their worth as emissions come down

    The power of Science-Based Targets as a sustainable finance tool was highlighted this week by research which showed for the first time that companies with SBTs are succeeding in cutting greenhouse gas emissions much faster than the wider economy. Many are even ahead of their own targets.

    • 29 Jan 2021
  • More fallen angels expected but also a drop in default rates

    Corporate default rates are expected to decline towards the end of this year after peaking in the next few months, but the number of borrowers facing a plunge into junk ratings is near a record high. Lenders say that they are taking a pragmatic view on the companies in their loan portfolios to try and prevent defaults.

    • 29 Jan 2021
  • PE-backed GaleMed turns to loan market

    Taiwan’s GaleMed Corp is tapping the loan market for a $70m-equivalent dual-currency deal for refinancing debt and dividend recapitalisation.

    • 29 Jan 2021
  • Spotlight shifts to Natixis, SG on Ecuador oil finance as banks pull out

    In a rare sign that environmental campaigners are having an impact on the financial industry, the burden of financing the Ecuadorian Amazon oil trade has shifted between banks in the past six months. But it is clear the banking industry is supporting the trade in more ways than have yet been uncovered.

    • 28 Jan 2021
  • Klöckner Pentaplast takes ESG ratchet to dollar mart

    Plastics packaging firm Klöckner Pentaplast (KP) has included an ESG margin ratchet in the loan leg of a refinancing, the first time this has been added to a dollar-denominated loan, though the structure is becoming increasingly common in euros.

    • 28 Jan 2021
  • Biogroup bond debut shines in unsecured

    Biogroup’s debut in the high yield bond market has become one of the tightest ever triple-C rated issues, validating the former loan-only company’s decision to turn to public markets to add subordination to the refinancing of its capital structure.

    • 28 Jan 2021
  • Will ESG-linked debt prosper in private debt?

    European and US direct lending’s insatiable rise to relevance has so far not brought with it a push towards sustainable finance. But this year may be different, as certain private debt funds are setting out ESG blueprints for others to follow.

    • 28 Jan 2021
  • Real estate names pile into debt markets as M&A tipped to soar

    Real estate companies are some of the biggest borrowers in Europe this year, with loans for Valor Real Estate and QuadReal Property, a UK/Canadian property joint venture, and Supermarket Income Reit adding to the pile this week.

    • 28 Jan 2021
  • Will sustainability-linked debt prosper in private credit?

    European and US direct lending’s insatiable rise to relevance has so far not brought with it a push towards sustainable finance. But this year may be different, as certain private debt funds are setting out ESG blueprints for others to follow.

    • 28 Jan 2021
  • Supermarket Income REIT keeps real estate debt binge going

    Supermarket Income REIT, a UK grocery property investment trust, has signed an £80m revolving credit facility, as the real estate sector continues to pile on debt.

    • 28 Jan 2021
  • Tencent’s tight loan price forces banks to balance return against relationship

    Tencent Holdings is testing bank appetite for a jumbo loan of $6bn as it gets ready to once again shun syndication in favour of a club deal. But the razor-thin pricing on offer is likely to pose a challenge — as will a recent crackdown on some of China’s largest technology companies. Pan Yue reports.

    • 28 Jan 2021
  • KKR picks partner for European private credit team

    KKR has appointed a new partner to help manage its private credit business.

    • 27 Jan 2021
  • CSAM hires direct lending origination head following Qatar tie-up

    Credit Suisse Asset Management (CSAM) has hired a head of origination in its direct lending group, following the firm's multi-billion push into private credit in partnership with Qatar Investment Authority.

    • 27 Jan 2021
  • Smurfit Kappa seals five green promises with loan

    Smurfit Kappa, the Irish paper and cardboard packaging company, has signed its first sustainability-linked loan for €1.35bn, at the same time as setting new targets to reduce its carbon footprint and water use and employ more women.

    • 27 Jan 2021
  • TUI rights offer attracts high take-up from shareholders

    Anglo-German travel and tourism group TUI has completed its heavily discounted €544m rights issue, which is part of a bailout of the company.

    • 27 Jan 2021
  • ION Analytics tries again

    ION Analytics has returned to the market with a $1.9bn-equivalent loan package to fund the combination of Dealogic with Acuris. It tried to sell this deal before the US presidential election but pulled it in the face of weakening sentiment and concerns over political stability.

    • 27 Jan 2021
  • Sun Hung Kai builds HK$5bn club loan

    Hong Kong-listed Sun Hung Kai Properties has returned to the loan market for a HK$5bn ($645m) club deal. It is testing lender appetite at a time of growing selectiveness around the sector.

    • 27 Jan 2021
  • Fosun slices pricing on loan return

    Chinese conglomerate Fosun International has cut pricing on a new $560m-equivalent multi-currency loan, as it counts on banks’ hunger to lend amid slow deal flow to push its transaction past the finish line.

    • 27 Jan 2021
  • BlackRock’s Fink backs net zero, leaves responsibility to clients

    BlackRock wants to move a long way towards catching up with leading investors in its response to climate change, its CEO Larry Fink indicated in his annual letter to chief executives on Tuesday. BlackRock stopped short of setting a net zero carbon emissions target for its $8.7tr of assets under management, or committing to swift decarbonisation. But it did publish a ‘net zero commitment’ saying it would “support the goal of net zero emissions by 2050 or sooner”.

    • 26 Jan 2021
  • Will direct lenders prove to be wolves in sheep’s clothing?

    Direct lenders and debt funds have always pitched themselves as being more suitable partners for businesses than banks, bondholders, or other institutional lenders. When the going gets tough, they can be quicker to waive covenants and offer new money than a less concentrated creditor group. But this also puts them in pole position to take the keys from a business should things go wrong — which we may see happen this year.

    • 26 Jan 2021
  • Housing associations to spur PP activity in February

    Some small UK housing associations are preparing to launch private placements, breathing life into the product after a month of next to no deal flow.

    • 26 Jan 2021
  • Flex claims first ESG-linked revolver for US tech name

    Flex, the US-Singapore electronic component maker, has signed a $2bn revolving credit facility, in what leads are describing as the first ESG-linked syndicated revolving credit facility for the US technology sector.

    • 26 Jan 2021
  • BNP hires from Axis for loans team

    BNP Paribas has hired veteran banker Rahul Mundra to its loan syndication team in India.

    • 26 Jan 2021
  • Tencent in talks for $6bn club loan

    Chinese technology giant Tencent Holdings is talking to its relationship banks for a jumbo $6bn loan, opting to once again favour a club deal over syndication in a bid to save on funding costs.

    • 26 Jan 2021
  • Stabilus launches SSD as autos return

    German car part maker Stabilus began marketing a Schuldschein on Monday, as many consider whether the automotive sector should be back on investors' buy lists.

    • 25 Jan 2021
  • Klöckner Pentaplast takes ESG margin route for refi loan

    Plastics packaging firm Klöckner Pentaplast has included an ESG margin ratchet in the loan leg of its refinancing, which was announced on Monday, a feature set to become increasingly common in European leveraged credit this year. Unlike previous deals with this structure, KP will take this structure to the dollar market, as well as euros.

    • 25 Jan 2021
  • Valour Quadreal JV gets loan funding amid real estate debt boom

    Valour Real Estate and Quadreal Property, a UK and Canadian property joint venture, has signed €212m-equivalent of loans, with real estate companies making up some of the biggest borrowers in Europe so far this year.

    • 25 Jan 2021
  • G.Network logs into £220m loan

    G.Network Communications, the London-centric broadband provider, has signed loans totalling £229m, with the company planning a £1bn investment programme into the UK capital.

    • 25 Jan 2021
  • BNP Paribas, CS and ING to cut Amazon oil financing

    Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.

    • 25 Jan 2021
  • Taiwanese banks ditch IB-led loans over default fears, MoF guidance

    Taiwanese banks are increasingly asking their loans teams to avoid participating in deals led by global investment banks, in line with guidance given by the finance ministry last year and over fears of being burnt again by possible defaults.

    • 25 Jan 2021
  • MPs call on Bank of England to take lead by greening QE

    A cross-party group of UK members of Parliament has written to Andrew Bailey, governor of the Bank of England, calling on the Bank to start greening its quantitative easing and Covid support programmes.

    • 25 Jan 2021
  • Ex-Morgan Stanley banker joins SC Lowy

    Hong-Kong-headquartered bank SC Lowy has hired Jonathan Graber for its trading team in London.

    • 22 Jan 2021
  • UKEF backs biggest overseas infrastructure financing for Egypt rail project

    UK Export Finance, the UK's export credit agency, has provided its largest ever overseas infrastructure guarantee to support the construction of two new monorails in Egypt. JP Morgan is leading a group of commercial lenders in providing the funding.

    • 22 Jan 2021
  • InfraVia injects SDG into equity bridge

    Infravia Capital Partners, the French private equity firm, has amended an equity bridge facility to make it align with the UN’s Sustainable Development Goals. Margins are tied to the ESG performance of its fund’s investments, following the lead of EQT and Eurazeo.

    • 22 Jan 2021
  • Altitude Infrastructure gets €266m loan funding

    Altitude Infrastructure, the French telecoms company, has signed a €266m credit facility, which it will use for two fibre optic networks.

    • 22 Jan 2021
  • Duo provides green loan for Cityplaza One acquisition

    Standard Chartered and United Overseas Bank have provided a HK$5.29bn ($682m) green loan to support a Gaw Capital Partners-led consortium’s acquisition of Cityplaza One.

    • 22 Jan 2021
  • Direct lenders toughen up as latest Covid wave bites

    Several industries once popular with direct lenders have struggled to cope through the coronavirus. Now, direct lenders say they have toughened terms for borrowers from these sectors.

    • 21 Jan 2021
  • Santander pins corporate finance strategy on ESG

    Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.

    • 21 Jan 2021
  • RBC promotes from within as Uden retires

    RBC Capital Markets has reorganised its European equity capital markets and corporate broking business following the decision of Darrell Uden to step down at the end of this month.

    • 21 Jan 2021
  • Perfect chemistry as investors cheer Ineos’s €4.6bn BP integration package

    Investors have enthusiastically backed a €4.6bn financing package for Ineos Quattro, funding the integration of BP’s aromatics and acetyls business into the chemicals conglomerate. Strong demand allowed the company to raise more secured debt than expected, cutting funding costs, and strip out a bank-targeted term loan ‘A’ in favour of a bigger, cheaper, institutional term loan ‘B’.

    • 21 Jan 2021
  • Energy firms facing insolvency bank on ABS

    Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.

    • 21 Jan 2021
  • IG lines up $906m of financing for Tastytrade buy

    IG Group, the UK derivatives trading platform, plans to use $906m-equivalent in debt and equity to finance a $1bn acquisition of US brokerage Tastytrade.

    • 21 Jan 2021
  • Mphasis to set new record for LBO loan size from India

    Asia’s loans bankers are salivating over the prospects of working on the largest ever leveraged buyout loan from India. Blackstone is looking to exit from IT services company Mphasis in a deal that has seen plenty of interest from other private equity firms. Pan Yue reports.

    • 21 Jan 2021
  • New year brings relief to international Schuldschein arrangers

    The decline in international and debut Schuldschein issuance last year had a disproportionate impact on non-German bank arrangers. But this year’s bright start has given them a new lease of life.

    • 20 Jan 2021
  • Apax Global Alpha tweaks revolver as amend and extend trend grows

    Apax Global Alpha, a UK investment trust, has amended the terms on its €140m revolving credit facility. The deal reflects what is expected to be a big theme in the loan market this year of borrowers tinkering with existing facilities rather than doing full refinancings.

    • 20 Jan 2021
  • Flender financing to set ESG precedent for lagging levfin market

    Financing for Carlyle’s purchase of Flender, a turbine gearbox manufacturer, could set a precedent for leveraged finance, which has lagged behind other debt markets in adopting instruments linked to environmental, social and governance conditions. Other issuers are sure to follow, but the market may have to solve other challenges before this can become a market standard.

    • 20 Jan 2021
  • Biogroup plans full refi after acquisition spree

    Biogroup LCD is planning to refinance its full capital structure and tap the bond market for the first time after a string of recent debt-funded acquisitions. The French lab testing company was a notable casualty of the first wave of Covid-induced market chaos, forced to postpone its plans for a loan in March and then having to pay up when it returned for the financing in June.

    • 20 Jan 2021
  • Lenders rush to Grab loan, size gets boost to $1.75bn

    Singaporean ride-hailing company Grab Holdings has boosted the size of its term loan B after receiving a strong response from the market, setting the stage for more Asian start-up firms to head to the US for financing.

    • 20 Jan 2021
  • Düsseldorf Airport takes state loan as Hamburg might follow after market slip

    Düsseldorf Airport has completed a €250m German state-backed loan, with debt market participants expecting Hamburg Airport to follow suit after being forced to pull its Schuldschein deal last week.

    • 19 Jan 2021
  • The wrong time to restrict leveraged lending

    The ECB's attempts to curb leveraged lending are damaging, inconsistent, and come at exactly the wrong time

    • 19 Jan 2021
  • Fidelity moves into private credit with team hire

    Fidelity International has hired a team of 10 private credit specialists from MeDirect Bank, in its first foray into European private debt.

    • 19 Jan 2021
  • Provident Square links loan pricing to occupancy rate

    Provident Square, a shopping mall in the North Point area in Hong Kong, is seeking a HK$1.4bn ($180m) loan for refinancing.

    • 19 Jan 2021
  • Afme proposes recapping with equity-like

    Many EU companies could do with capital beyond debt, according to the Association for Financial Markets in Europe (Afme). The trade body, in a report it produced alongside PwC, suggests encouraging the use of equity-adjacent products to fill balance sheet gaps from the coronavirus crisis.

    • 19 Jan 2021
  • Bryson hire reveals SMBC Nikko’s ambitions in EMEA capital markets

    SMBC Nikko wants to grow its capital markets and advisory business in EMEA, which is smaller than its parent’s heft in the loan market. It has hired Anthony Bryson, a former NatWest Markets and BNP Paribas banker, to lead the push.

    • 18 Jan 2021
  • Dawn of Schuldschein debuts as TeamViewer launches ESG deal

    German software company TeamViewer launched an inaugural Schuldschein deal on Monday, with margins linked to its ESG performance. Five new borrowers have entered the Schuldschein market so far this year, almost half as many as appeared throughout the whole of 2020.

    • 18 Jan 2021
  • Aedifica debuts in US PPs

    Aedifica, a Belgium-based healthcare property investment company, has launched a US private placement, according to market sources.

    • 18 Jan 2021
  • Lidl shops for second Asian loan

    Lidl, the Germany-headquartered budget supermarket chain, has entered the syndicated loan market to raise cash from Asian lenders for a second time, according to market sources.

    • 18 Jan 2021
  • ‘Give us airline care’: Eurostar begs UK government for funds

    Eurostar, the majority French-owned train service between the UK and Europe, has asked the UK government for bailout loans. The request came as 28 senior businesspeople in the UK wrote an open letter warning that the rail service was fighting for its survival.

    • 18 Jan 2021
  • Two-phase syndication for Greenfields acquisition loan underway

    The senior syndication stage for a $140m-equivalent loan to support TPG and Northstar Group’s acquisition of a majority stake in Japfa’s southeast Asian dairy business is set to close by the end of this week.

    • 18 Jan 2021
  • Asset owners to attempt daring, immediate emission cuts

    One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.

    • 15 Jan 2021
  • Trafigura causes stir with debut Schuldschein

    Commodities trading giant Trafigura has launched a Schuldschein which, due to its poor credit profile and high intended yield, is a clear outlier in the market, while some bankers are surprised that such a large company would try to raise such a small loan.

    • 15 Jan 2021
  • Hamburg Airport fails to land Schuldschein

    Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors.

    • 15 Jan 2021
  • KBC steps forward with internal Libor transition

    KBC Bank has hired fintech firm Finastra to help in the transition away from Libor, as the shift from the scandal-hit benchmark intensifies before it falls out of use at the end of the year.

    • 15 Jan 2021
  • Saudi lands $3bn export financing agreement with Korea

    Saudi Arabia has secured an export financing agreement with Korea’s export credit agency and trade insurance corporation. The deal, which will bolster trade between the two, is the kingdom’s second ECA-backed deal.

    • 15 Jan 2021
  • ONGC Videsh ditches general syndication plan

    ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has decided to cancel general syndication for its $700m loan after the bookrunners found enough liquidity during a senior stage.

    • 15 Jan 2021
  • People news in brief

    Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent

    • 14 Jan 2021
  • UK MD at Goldman joins digital infra investment firm

    Digital Colony, which invests in mobile and internet infrastructure, has hired Latifa Tefridj-Gaillard as head of Europe capital formation.

    • 14 Jan 2021
  • Politics and Covid fail to dent UK fee pool optimism

    Bankers are betting on a strong year for the UK — Europe’s biggest fee pool — but the overlapping concerns of Brexit, Covid-19 and regulation make for an uncertain outlook, writes David Rothnie.

    • 14 Jan 2021
  • Mayr-Melnhof Karton launches debut Schuldschein deal

    Austrian paper and packaging firm Mayr-Melnhof Karton, called MM Karton for short, has launched a Schuldscheine, with an initial target of €300m.

    • 14 Jan 2021
  • Energean takes $700m loan to get Karish gas pumping

    Energean, the London-listed oil and gas company, has signed a $700m loan to develop a gas field off the shore of Israel, as the company enters the final stretch in having the field up and running.

    • 14 Jan 2021
  • Schroder UK amends bank line with other A&Es expected soon

    Schroder UK Public Private Trust, an investment trust, has extended its sterling bank line, as loans bankers said they are seeing a steady stream of amend and extend requests from borrowers.

    • 14 Jan 2021
  • Loans bankers nervous amid small pipelines, lack of visibility

    Loans bankers in Asia are battening down the hatches, faced with a small deal pipeline and little visibility on better market conditions. While some respite may come their way after the Chinese New Year holiday, bankers are uncertain about the way forward for the syndication business. Pan Yue reports.

    • 14 Jan 2021
  • First Resources seeks $150m dual-currency loan

    Singapore-listed palm oil company First Resources is tapping the loan market for a $150m-equivalent dual-currency deal.

    • 14 Jan 2021
  • Volvo Cars shifts green drive up a gear with sustainability loan on road to 2040

    Volvo Cars, the Chinese-owned Swedish auto maker, has refinanced its main bank revolver with a €1.3bn sustainability-linked revolving credit facility, as the borrower looks to become climate neutral by 2040.

    • 13 Jan 2021
  • Beijing Clean Energy seeks new $150m loan

    Beijing Enterprises Clean Energy Group has made a quick return to the loan market after five months, seeking a $150m deal in general syndication.

    • 13 Jan 2021
  • Arbour joins ICG from Palamon Capital

    Intermediate Capital Group, the UK alternative asset manager, has hired Philippe Arbour from Palamon Capital Partner to help further develop its Senior Debt Partners strategy.

    • 12 Jan 2021
  • Rating agency treatment of EM risk at odds with the people who take it

    Credit rating agencies are attracting harsh criticism over their treatment of emerging market sovereigns. Some in the bond markets believe it threatens to undermine their authority when it comes to assessing creditworthiness.

    • 12 Jan 2021
  • Kartesia appoints full time head of CSR, ESG

    Specialist private lender Kartesia has appointed a full time head of corporate social responsibility and environmental, social and governance issues.

    • 12 Jan 2021
  • Brazil’s indigenous people to Fink: stop financing Amazon destruction

    The Association of Brazil’s Indigenous Peoples has written an open letter to BlackRock’s CEO Larry Fink, who is expected to publish his annual letter to stakeholders this week. Apib wants BlackRock to end what it calls its “complicity” in the destruction of the Amazon rainforest, and to consult indigenous people as it finalises its new policy on biodiversity and deforestation.

    • 12 Jan 2021
  • Bluefield Solar draws and grows revolver for Bradenstoke Solar Park acquisition

    Bluefield Solar, the UK solar investment fund, has financed an £89m acquisition of a 70 MW plant using a revolving credit facility, with the borrower also amending terms on the bank debt.

    • 12 Jan 2021
  • Smaller IG lenders fret over pipeline empty of big ticket syndications

    Europe’s second tier lenders say that there is a noticeable dearth of big, high grade syndicated loans in the pipeline, with some adding they are preparing for bleak months ahead.

    • 12 Jan 2021
  • Zhen Ding cuts pricing on $250m refi

    Taiwanese printed circuit board manufacturer Zhen Ding Technology Holding has broken a three absence from the loan market to launch a $250m deal for refinancing.

    • 12 Jan 2021
  • Masan invites banks to $250m loan

    Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.

    • 12 Jan 2021
  • Vingroup returns with $400m loan

    Vingroup Joint Stock Co has launched an up to $400m loan to the market.

    • 12 Jan 2021
  • Sovcombank takes first ESG facility as Russian corps extend green pivot

    Russia’s Sovcombank has entered the ESG loan market for the first time, raising a $350m syndicated loan. An increasing number of Russian corporates are turning to the green financing sector as a way to diversify funding.

    • 11 Jan 2021
  • Sixth Street, Investec close European direct lending funds

    Sixth Street and Investec this week both said they had closed European direct lending funds.

    • 11 Jan 2021
  • Investec launches debut direct lending fund

    Investec has announced the first close of an inaugural direct lending fund targeting Western Europe’s small cap companies, which Investec believes are underserved by banks and other lenders.

    • 11 Jan 2021
  • Traton debuts as Schuldschein opens with a bang

    Traton, the Volkswagen subsidiary which makes MAN, Scania and VW commercial vehicles, on Monday launched a sustainability-linked Schuldscheine with a minimum target of €400m. The first SSD deal of the year, Traton’s target size is a good indication the market is looking to make up ground it lost last year.

    • 11 Jan 2021
  • BlackRock backs UK life sciences firm in latest PE round

    BlackRock, the US asset manager, has taken part in a $75m Series 'C' financing for Immunocore, a UK life sciences company that works in developing treatments that use the body’s T-cell receptors to fight cancer and other diseases.

    • 11 Jan 2021
  • EasyJet follows British Airways in using UKEF aid for liquidity boosting loan

    EasyJet, the UK budget airline, has signed a $1.87bn-equivalent liquidity facility backed by the UK’s export credit agency, the second such guarantee it has given in recent weeks.

    • 11 Jan 2021
  • Ineos Quattro launches funding for BP buyout, consents for new cap stack

    Banks have launched the funding for Ineos’s purchase of BP’s aromatics and acetyls business into syndication, with €2.6bn of new first lien term loan 'B' on offer, plus a package of amendments to Ineos Styrolution’s existing bond and loan debt.

    • 11 Jan 2021
  • Tikehau hires new COO for private debt business

    Alternative asset manager Tikehau Capital has hired a new chief operating officer for its private debt strategy, who will also be responsible for private debt investments in France.

    • 11 Jan 2021
  • Pan Brothers hit with downgrade on looming loan refi pressure

    Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time in the past three months as a result of refinancing pressure.

    • 11 Jan 2021
  • CP Group mulls bond/loan combo for Tesco Asia debt takeout

    Thai conglomerate Charoen Pokphand Group will likely tap both the bond and loan markets to take out a bridge facility raised last year for the acquisition of retail giant Tesco’s Asia business.

    • 11 Jan 2021
  • Fortune Oil seeks $400m for 2018 deal refi

    Hong Kong-based energy firm Fortune Oil has returned to the loan market. It is seeking $400m-equivalent to refinance an old borrowing sealed in 2018.

    • 11 Jan 2021
  • Huhtamaki takes sustainability loan as single-use plastics outlawed

    Huhtamaki, the Finnish food packaging company, has refinanced a €400m facility, with the borrower becoming the latest to add sustainability metrics to its main bank line as an EU ban on single-use plastics comes into force.

    • 08 Jan 2021
  • Loans banker Chang to leave Mizuho

    Monita Chang, a senior director in Mizuho’s debt structuring and syndication team in Hong Kong, is leaving the bank, according to a source close to the situation.

    • 08 Jan 2021
  • SMEs face reckoning as lenders flee and ECB boosts bigger rivals

    Europe’s small and medium sized enterprises fear dark days ahead, as treasurers complain of banks withdrawing support and express concerns that central bank bond buying programmes favour the biggest and best capitalised companies. Mike Turner reports.

    • 07 Jan 2021
  • People moves in brief

    Loynes extends syndicate responsibilities at Crédit Agricole — CS's equity sales head to join Citi — Flori starts at CEB funding team

    • 07 Jan 2021
  • Lower Euribor floors could lure international crowd back to Schuldscheine

    Several prominent Schuldschein arrangers believe the market must stop setting Euribor floors at 0% this year if it is to lure international borrowers back from the bond markets. If SSD arrangers can persuade investors to settle for lower minimums, corporate treasurers may find the SSD market a compelling alternative to bond markets once more, writes Silas Brown.

    • 07 Jan 2021