Syndicated Loans - All Articles

  • Glenveagh bulks up bank facility

    Glenveagh Properties, the Irish house builder, has signed a €250m bank line to refinance debt due in April, adding to its lending group in the process.

    • 26 Feb 2021
  • Soltec bumps up bank debt after IPO

    Soltec, a Spanish solar tracker company, has refinanced its main syndicated bank loan, almost doubling the size of its bank facilities four months after the company publicly listed.

    • 26 Feb 2021
  • HIG Capital hires another MD for European direct lending biz

    HIG Capital has hired a managing director from Houlihan Lokey for its European direct lending platform.

    • 26 Feb 2021
  • DB leads ECA-backed funding for Ghana infrastructure projects

    Ghana has secured two loan agreements, which are backed by the export credit agency of Italy, Sace. There is more room for the ECA-backed market to grow in the region, sources close to the deal said.

    • 26 Feb 2021
  • GlobalCapital Syndicated Loan, Leveraged Finance and Private Debt Awards 2020: the full results

    After a poll of market participants at the end of 2020, GlobalCapital can now reveal the winners of its annual Syndicated Loan and Leveraged Finance Awards. GlobalCapital can also reveal the winners of the Private Debt Awards. Regrettably, we still cannot celebrate the awards with you in person, but we congratulate all the winners and nominees in this exceptionally challenging year.

    • 26 Feb 2021
  • Zhen Ding wraps up $250m loan

    Taiwanese printed circuit board manufacturer Zhen Ding Technology Holding has closed a $250m loan with three participants.

    • 26 Feb 2021
  • Banks and investors’ backing of fossil fuels clash with their climate pledges

    Banks and investors’ claims to be acting on climate change appear to clash with the financing they still provide in the real economy, research showed this week — such as plans to increase fossil fuel production and consumption, even in the UK and France.

    • 25 Feb 2021
  • Finance is fossilised

    Look at any bank’s website or hear its CEO speak and you will get a torrent of virtuous words about climate change, sustainability and supporting clients on their journeys to net zero. The same goes for big investors, from BlackRock down, but the windows of their ivory towers are misted up with all the hot air being spouted.

    • 25 Feb 2021
  • Dyal Capital sells billions of PP debt to distribute to investors

    Dyal Capital, the US private equity firm that specialises in buying minority equity stakes in private equity and hedge fund managers, has employed a financing method — private placements securitized on fund cashflows — rarely seen before in its industry, writes Silas Brown.

    • 25 Feb 2021
  • NTT dials in blowout transatlantic trade

    Nippon Telegraph & Telephone Corp (NTT) had a storming outing in the bond markets this week, easily raising €1bn in Europe and $8bn on the other side of the Atlantic to refinance M&A bridge debt.

    • 25 Feb 2021
  • Middle East offers sliver of optimism in desolate market

    Emerging market loan bankers say that despite a drought of activity, discussions with Middle East borrowers may offer a reprieve.

    • 25 Feb 2021
  • Bureau Veritas adds ESG metrics to loan and restarts dividend

    Bureau Veritas, the French laboratory testing company, has amended its €600m bank line to include ESG elements, as the company is on course to breeze through its relaxed covenant restrictions at the next evaluation.

    • 25 Feb 2021
  • Schuldschein agents toy with delayed draws to tempt borrowers back

    Schuldschein agents have begun offering borrowers delayed draws in a bid to increase the product's value as a funding option. Many investors are wary of the prospect of deferred funding but are also desperate for supply.

    • 25 Feb 2021
  • SMC Global Power seeks $200m in senior syndication

    Philippines’ SMC Global Power Holdings, the power unit of conglomerate San Miguel Corp, has returned to the loan market for $200m.

    • 25 Feb 2021
  • Piramal Glass invites banks to $360m LBO loan

    Private equity firm Blackstone has launched into syndication a $360m loan that will support its leveraged buyout of India’s Piramal Glass.

    • 25 Feb 2021
  • NCHA latest to link loan to racial diversity

    Nottingham Community Housing Association has signed a revolving credit facility with a margin that is partially linked to increasing racial diversity within its management team — a metric that more borrowers are expected to use in sustainability-linked financings.

    • 24 Feb 2021
  • PP agents flirt with financials as corporate deals dry up

    Banks arranging private placements in Europe have started weighing up bringing companies from the financial sector to market, amid a deal drought from the corporate borrowers which are the usual staple fare.

    • 23 Feb 2021
  • NREP gets loan amid real estate debt splurge

    NREP, the largest real estate investment manager in the Nordics, has signed a €300m subscription credit line, as Europe’s property companies extend their debt binge since the start of the year.

    • 23 Feb 2021
  • China Merchants’ leasing arm makes loan return

    China Merchants Group’s leasing subsidiary has returned to the loan market for a $479.75m borrowing.

    • 23 Feb 2021
  • GLP nets $658m from sustainability-linked loan

    GLP, a Singapore-headquartered logistics facilities operator, has raised a $658m sustainability-linked loan.

    • 23 Feb 2021
  • UPL offers rare sustainability-linked loan in Asian market

    Agrochemicals company UPL Corp is set to be the first Indian company to raise a sustainability-linked loan (SLL) amid growing appetite for the product in Asia. The $500m deal will offer banks in the region a rare opportunity to participate in a syndicated deal from the asset class. Pan Yue reports.

    • 23 Feb 2021
  • HPS provides rescue loan to Hostelworld

    Online travel agency Hostelworld has signed a five year €30m secured loan facility with HPS Investment Partners, the asset manager headquartered in New York.

    • 22 Feb 2021
  • CPI Property repays Schuldschein early

    Listed real estate firm CPI Property is repaying a portion of its Schuldschein early at par, taking advantage of favourable legal conditions in Germany regarding early prepayments of floating rate loans. Sources say other companies may use this option if funding conditions remain so attractive in public markets.

    • 22 Feb 2021
  • Five miss £180m payday as GardaWorld quits G4S bid

    GardaWorld, the Canadian security firm, has pulled out of its hostile bid for G4S, leaving the way clear for US rival Allied Universal.

    • 22 Feb 2021
  • British Airways sets drawdown date for £2bn UK-backed loan

    British Airways will draw on its £2bn UK government-backed facility by the end of this month, as its owner International Airlines Group continues to look at other debt options to improve its liquidity.

    • 22 Feb 2021
  • CVC-led consortium seeks HK$2bn for I.T take-private

    A consortium led by CVC Capital Partners is seeking a HK$2bn ($257.9m) loan to support the take private of Hong Kong fashion retailer I.T.

    • 22 Feb 2021
  • Calls for more clarity on UK Libor ‘safe harbour’ consultation

    The UK government has opened a consultation on having a ‘safe harbour’ for legacy Libor contracts deemed too difficult to switch to another benchmark before the end of year deadline. However, market participants say much more needs to be clarified in the proposals.

    • 19 Feb 2021
  • AAI builds HK$1.3bn loan return

    Asia Allied Infrastructure Holdings, a Hong Kong-listed property developer and investor, has returned to the loan market after one year. It has raised HK$1.3bn ($167.6m) from a group of five banks.

    • 19 Feb 2021
  • EM lenders struggle as bonds steal business, hopes for 2021 pick-up low

    The tumbling of emerging markets syndicated lending volumes while bond markets boom has finally begun to wear on the optimism of loan bankers. The hope that 2021 would mark a return to business as usual is fading, although some say there may be opportunities, albeit limited, for market growth.

    • 18 Feb 2021
  • AB InBev and Carlyle sign $14.2bn as SLLs become necessity

    The sustainability linked loan market hit two milestones this week with Anheuser-Busch InBev, the world’s biggest brewer, signing the largest ever revolver in the structure, and Carlyle Group making a similar claim for the US private equity market.

    • 18 Feb 2021
  • Funding Circle strikes second CBILS securitization deal with Sixth Street

    More securitizations of UK government-backed SME loans are being executed in private, with Funding Circle, a pioneer in the market, closing a deal with Sixth Street and Barclays in late January.

    • 18 Feb 2021
  • HSBC AM launches UK direct lending platform

    HSBC Asset Management has partnered with HSBC UK to launch a direct lending platform, targeting smaller and mid-cap corporates.

    • 18 Feb 2021
  • Carlyle signs $4.1bn ‘largest’ private equity ESG facility

    Carlyle Group has signed what it is calling the largest ESG-linked private equity credit facility in the US, as socially conscious financing continues to make inroads into the sector globally.

    • 18 Feb 2021
  • AB InBev signs largest SLL ever

    Anheuser-Bush InBev, the world largest brewing company, has signed a $10.1bn deal, in what the company is claiming is the largest sustainability-linked revolving credit facility ever.

    • 18 Feb 2021
  • Loans bankers pin hopes on M&A boost as SF-Kerry deal signals revival

    Chinese delivery company SF Express Co is seeking an up to HK$24bn ($3bn) loan for its acquisition of Kerry Logistics Network, signalling the start of a revival in fundraising for event-driven situations. Pan Yue reports.

    • 18 Feb 2021
  • M&A lawyer jumps industry to JP Morgan

    Charlie Jacobs, senior partner and chairman at law firm Linklaters, is set to become co-head of UK investment banking at JP Morgan.

    • 17 Feb 2021
  • Heavy industry way off track on climate, warns TPI

    The scope for investors to get behind decarbonising some of the most difficult industries was highlighted on Wednesday by a report showing that only 14% of leading heavy industrial companies are aligned with limiting global warming to 2°C by 2050.

    • 17 Feb 2021
  • Direct deals save big fish from private debt drought

    Though both Schuldscheine and US private placements are suffering from droughts of European deals, many of the larger investors in these markets are not too parched. Having used these markets as footholds to develop corporate relationships, they are now keeping deals flowing bilaterally.

    • 17 Feb 2021
  • Grünenthal considers funding options after reports of scrapped leveraged debt sale

    Grünenthal, the German pain relief medicine maker, has extended the maturities on €535m of term loan facilities, telling GlobalCapital it is open to various financing options, after a press report saying investors had shunned a new euro leveraged loan.

    • 17 Feb 2021
  • Greenium likely to grow in money markets, says BlackRock chief

    Apart from a few avant-garde programmes and players, green finance has only recently begun to be noticed in the short term debt markets, but that looks set to change rapidly. GlobalCapital spoke to Thomas Callahan, head of BlackRock’s global cash management business, about how he expects green commercial paper and ESG investing to develop.

    • 17 Feb 2021
  • Levfin boss Luehrs takes up new role at Morgan Stanley

    Martin Luehrs has been appointed to lead global capital markets at Morgan Stanley's Frankfurt-based broker dealer.

    • 17 Feb 2021
  • VPBank Finance boosts loan again

    VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has further increased the size of its loan to $230m after additional banks joined the deal.

    • 17 Feb 2021
  • Chailease Singapore makes loan comeback

    Taiwanese leasing company Chailease International Finance Corp has made a quick return to the loan market through its Singapore entity.

    • 17 Feb 2021
  • Fashion needs to work harder to find green fit

    H&M, the Swedish fashion company, has sold a sustainability-linked security for its debut outing in the bond markets. This is an encouraging step, but the fashion industry has a lot more work to do to clean up its look.

    • 16 Feb 2021
  • PP market should target financial firms

    US private placement agents have struggled to attract their typical stable of well rated corporates to their market this year. Public bond markets have proven too cheap for PP funding to compete and the European wing of the market has suffered as a consequence. But instead of waiting for the scales to tip back, agents should find new European borrowers from the financial institutions sector.

    • 16 Feb 2021
  • Loan bodies add social risk language to Green Loan Principle documents

    The global loan market trade bodies have updated the Green Loan Principles, broadening the guidelines on what counts as a green facility to account for the growing importance of social risk.

    • 16 Feb 2021
  • Serco draws existing debt for $295m WBB buy as transatlantic M&A heats up

    Serco, the UK outsourcing company, has agreed to buy US defence company Whitney, Bradley & Brown for $295m, amid heightened expectations of transatlantic acquisitions this year.

    • 16 Feb 2021
  • Thai Union dives into sustainability-linked loan market

    Thai Union Group, a seafood producer, has raised its first sustainability-linked loan of Bt12bn ($401m)-equivalent from the Thai and Japanese markets.

    • 16 Feb 2021
  • EM loans forecast bleak ‘no matter how much’ lenders do

    Syndicated lending volumes, particularly across emerging markets, have tumbled since the onset of the coronavirus pandemic last year. Though some had hopes that 2021 would yield more activity for lending desks, that optimism has been postponed to next year, as lenders say they simply cannot compete with other asset classes for business.

    • 15 Feb 2021
  • Trafigura’s SSD the first of many, says treasurer

    Trafigura, one of the world’s largest commodity traders, has closed a Schuldschein issue in a debut that surprised many in the market. The deal shows there is an appetite for unusual credits among some of the market’s investors. Trafigura’s group treasurer told GlobalCapital that this SSD is only the first from his company.

    • 15 Feb 2021
  • Commodity trader Mercuria launches US PPs

    Mercuria has launched a US private placement deal, according to market sources. The privately-owned Swiss commodity trader is the third company to enter the PP market from Europe this year.

    • 15 Feb 2021
  • Covid and SMEs with Andre Hakkak, chief executive of White Oak Global Advisors

    GlobalCapital spoke to Andre Hakkak, chief executive of White Oak Global Advisors, a fund specialising in SME, asset-based and direct loan origination, about the Covid crisis in the SME world, the coming end of government support, the end of Ebitda and the challenges of fundraising in a pandemic.

    • 15 Feb 2021
  • Greencoat follows equity and debt raise with Nordic first

    Greencoat Renewables, the Irish wind farm fund, has made an acquisition of around €60m acquisition in Finland, a few months after the company sold equity to free up debt for purchases.

    • 15 Feb 2021
  • Shurgard locks up PP funding

    One of Europe’s largest self-storage companies Shurgard has priced a new €300m US private placement, according to market sources.

    • 15 Feb 2021
  • Borrowers gain whip hand in Schuldscheine

    Schuldschein investors have told GlobalCapital that dwindling deal flow has meant they have to look elsewhere for assets. Some have turned to the secondary markets and others to bilateral deals.

    • 12 Feb 2021
  • Alarm bells sound as end of new sterling Libor loans looms

    The date that the UK regulator has set to stop new Libor lending is just over six weeks away but market participants once again sounded the warning bells this week over the readiness of lenders to leave the old benchmark behind.

    • 12 Feb 2021
  • BNPP hires Moodley for UK advisory

    Kirshlen Moodley, formerly a member of JP Morgan's UK M&A team, has joined BNP Paribas.

    • 12 Feb 2021
  • Stark leans on pandemic proof to sell CVC buyout loan

    Stark Group’s strong performance amid the pandemic is a crucial selling point for investors looking at buying the €1.35bn loan to fund its purchase by CVC, which agreed to buy the firm from Lone Star in January. The group has added an ESG ratchet to the facility, an increasingly common structure this year, with a margin stepdown if it cuts greenhouse gas emissions.

    • 11 Feb 2021
  • PIC offers PP to Livin Housing

    Pension Insurance Corp (PIC) has given Livin Housing a further £30m of private placement funding, after lending the housing association in England’s County Durham £65m in April 2019. Market participants have told GlobalCapital that several other housing associations are readying private placement deals for the next few months.

    • 11 Feb 2021
  • Aborted Entra bid forces Castellum to axe $3.5bn of loans

    Castellum, a Nordic real estate company, has failed in its bid for Norwegian rival Entra, leading to the cancellation of $3.5bn-equivalent of bridge financing.

    • 11 Feb 2021
  • Aedifica closes debut US private placement

    Aedifica, the Belgian healthcare property investment company, has closed its debut US private placement, according to market sources.

    • 10 Feb 2021
  • Transatlantic M&A tipped to rise as Drax buys Pinnacle Renewable

    Drax, the UK power generation company, has agreed a £226m-equivalent transatlantic acquisition that will be funded in part by existing debt facilities, as M&A bankers expect a rise in acquisitions between the UK and North America in 2021.

    • 10 Feb 2021
  • Prada doubles down on sustainability linked loan commitments

    Prada, the Italian fashion house, has made a return to the sustainability-linked loan market, becoming one of the few borrowers in Europe to sign a second deal that links the margin it pays to its sustainability performance.

    • 10 Feb 2021
  • Saudi Arabia’s PIF makes private credit play

    The Public Investment Fund, the sovereign wealth fund of Saudi Arabia, has coupled with private equity firm NBK Capital Partners, anchoring a direct lending fund.

    • 10 Feb 2021
  • Taiping Insurance receives HK$8.7bn for loan refi

    China Taiping Insurance Group Co has raised a HK$8.7bn ($1.12bn) loan to refinance debt taken for the acquisition of an office building in Hong Kong.

    • 10 Feb 2021
  • Baidu ends four-year loan absence for $3bn

    Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.

    • 10 Feb 2021
  • Hapag-Lloyd makes debut in green loan market

    Hapag-Lloyd, the German container shipping firm, has signed bank facilities totalling $889m, its first foray into green financing.

    • 09 Feb 2021
  • CVC cranks up leverage with Stark Group buyout

    CVC’s secondary buyout of building material firm Stark Group will crank leverage back up at the group, following a tough year when previous owner Lone Star battened down the hatches and paid down debt during an initial scramble for liquidity when the coronavirus pandemic struck.

    • 09 Feb 2021
  • Shurgard returns to US PP mart

    Shurgard, one of Europe’s largest self-storage companies, has returned to the US private placement market for the third time, according to market sources. The company is only the second from Europe to launch a PP deal this year.

    • 09 Feb 2021
  • Mind ID plans $750m loan return

    Mining Industry Indonesia, a holding company for the government’s stakes in five domestic mining firms, is seeking an up to $750m borrowing from the loan market.

    • 09 Feb 2021
  • OCBC provides two Sofr loans in Hong Kong

    Banks operating in Hong Kong are actively pushing for the adoption of alternative risk-free rates as the deadline for phasing out Libor, the old lending benchmark, approaches.

    • 09 Feb 2021
  • Cellnex bond likely to go well amid rights issue preparation

    Cellnex, the acquisition-hungry Spanish telecoms infrastructure company, has hired banks for a multi-tranche bond, continuing a fundraising spree that also includes a €7bn rights issue, announced last week.

    • 08 Feb 2021
  • Banks flock to SSD for ECB collateral

    A number of smaller European banks are trying to buy Schuldscheine on the secondary market, according to sources with knowledge of the situation, in order to post it as collateral to receive cheaper funding from the ECB ahead of a March 31 deadline.

    • 08 Feb 2021
  • Lombard Odier hires for sustainable private credit strategies

    Lombard Odier has made two senior hires to help cultivate sustainable private credit strategies.

    • 08 Feb 2021
  • Veolia goes hostile in €11.3bn Suez bid after rejection

    Veolia Environment, the French utility, has launched an all-out attack in its attempt to buy domestic rival Suez, as the acquisitive company looks to bypass Suez’s board in an offer to shareholders that values the target company at €11.3bn. Suez is already claiming that the move has been denied by the courts.

    • 08 Feb 2021
  • Techcombank preps loan return

    Vietnam Technological and Commercial Joint Stock Bank is in discussions with lenders for a comeback to the loan market.

    • 08 Feb 2021
  • Danish Agro returns to Schuldschein market

    Cooperative farm supplier Danish Agro has entered the Schuldschein market, after nearly a fortnight has passed with no new issue.

    • 05 Feb 2021
  • Loan market’s Libor transition to be crammed into ever shrinking window

    European loan bankers have been trying to convince corporates to switch their loans to risk-free rates sooner rather than later as the Libor deadline looms, but so far borrowers are largely ignoring their pleas.

    • 05 Feb 2021
  • Sharma adds to HSBC role

    HSBC loans banker Ashish Sharma has taken on additional responsibilities, co-leading Asia Pacific leveraged and acquisition finance with Rachel Watson.

    • 05 Feb 2021
  • Commerz looks at outsourcing equities sales and trading

    Under its new "Strategy 2024" plan, Commerzbank is considering outsourcing equities services to a partner as several rivals have done. It also wants to focus its equity capital markets and M&A franchises more squarely on existing clients.

    • 04 Feb 2021
  • People moves in brief

    HSBC's Henry to retire — European Commission borrows IR and funding officials from EIB — Paterson joins CQS

    • 04 Feb 2021
  • Ion Analytics earns redemption

    Ion Analytics has had a successful second outing in the leveraged loan market, placing its revamped deal tighter than talk and at a smaller discount. The result makes up for Ion suspending the original deal in November, in the face of US election fears and resistance over its terms.

    • 04 Feb 2021
  • Goldman unveils $200bn unicorn plan

    Goldman Sachs is trying to steal a march on rivals as it looks to turbo-charge its European business by leading the listings of the region’s most vibrant start-ups, writes David Rothnie.

    • 04 Feb 2021
  • Akbank to launch refi, aims to tighten margins

    Top tier Turkish lender Akbank will launch a syndicated loan refinancing within weeks, according to sources. The borrower is likely to get tighter margins than for its last loan offering in October 2020.

    • 04 Feb 2021
  • Banks say PP mart must tighten yields

    US private placement bankers in Europe have called on institutional investors to reduce their yield requirements or face another year of losing out on deals to the public markets.

    • 04 Feb 2021
  • Double booking for Whitbread loan and bond

    Whitbread, the UK hotel and pub company, amended and extended its revolving credit facility at around the same time as it stormed the bond markets with a blowout debut green trade.

    • 04 Feb 2021
  • Myanmar’s political turmoil casts pall over rare acquisition loan

    A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

    • 04 Feb 2021
  • UK film finance company seeks to float investment trust

    Great Point Entertainment Income Trust, a UK investment trust engaged in film financing, launched a £200m ($273.54m) IPO on the London Stock Exchange on Wednesday.

    • 03 Feb 2021
  • Fossil-heavy issuers try to avoid being new tobacco

    Companies with high carbon emissions are preparing for the risk that they could have to pay more to access capital markets, if investors and banks retreat from fossil fuel-heavy businesses, and even divest altogether — as Aviva has threatened to do. Some issuers will use investor relations drives and labelled financings, but ultimately they will have to find common ground with investors on how to transition to low carbon.

    • 03 Feb 2021
  • Barclays launches long-awaited Asda package

    Barclays has launched an €840m loan that forms the initial buy-out debt funding the takeover of UK supermarket chain Asda by the Issa brothers and TDR Capital. The bulk of the £3.5bn debt stack will follow in bond formats, with £2.25bn of senior secured and £500m of unsecured notes on offer.

    • 03 Feb 2021
  • Green is new black as Tod’s signs €500m SLL

    The Italian fashion house Tod’s has signed a €500m sustainability-linked loan, as environmentally conscious financing continues to infiltrate the infamously wasteful fashion industry.

    • 03 Feb 2021
  • Adaro goes wide for $400m loan

    Indonesia’s Adaro Energy has sent out a request for proposals for a $400m loan to meet its refinancing needs.

    • 03 Feb 2021
  • Asia’s loan market: testing times ahead

    Volumes in Asia’s loan market have slumped in recent years, with the pandemic only adding to the pressure. However, the biggest challenges for banks and borrowers are only just starting to emerge and they will test the industry's resilience.

    • 03 Feb 2021
  • Should CFOs hope for a GameStop lottery ticket?

    The extraordinary price action in GameStop, AMC Entertainment and others' shares last week is surely leading nervous CFOs all over the world to get an at-the-money rights issue signed off, in case they win the attention of Reddit's WallStreetBets crowd and can raise equity at giddy multiples. But this is like hoping for a winning lottery ticket. For firms in the most Covid-addled sectors, a private approach will be their best shot at financing a turnaround.

    • 02 Feb 2021
  • Bevc takes over treasury duties at KfW IPEX-Bank

    KfW IPEX-Bank, a wholly-owned subsidiary of KfW, has promoted Christian Bevc to global head of syndications and treasury.

    • 02 Feb 2021
  • Danske reshuffle keeps loans apart from bonds

    Danske Bank’s new large corporates and institutions business, headed by Berit Behring, took effect on Monday, with three global client-facing divisions. Loans — grouped with primary and secondary equities and the advisory business — is in a different division from bonds.

    • 02 Feb 2021
  • Cairn buys distressed credit manager

    Cairn Capital, the alternative credit asset management firm in which Mediobanca has a majority stake, has agreed a deal to buy and merge with Bybrook Capital.

    • 02 Feb 2021
  • University of Manchester signs virus liquidity revolver and negotiates PP covs

    The University of Manchester has signed a £250m revolving credit facility, following up a recent private placement covenant amendment with new debt to mitigate coronavirus pandemic risks.

    • 02 Feb 2021
  • Loans and CLOs in repricing race as spreads speed tighter

    Leveraged loan repricings are underway, taking a cue from Europe’s CLO market, where a wave of refi and reset activity has broken out with senior tranches now back to pre-pandemic levels.

    • 01 Feb 2021
  • ICG adds Libor swap text to new ESG-linked revolving facility

    Intermediate Capital Group, the UK alternative asset manager, has signed a £500m revolving credit facility based on Libor, but with provisions to change to risk-free rates when the old benchmark falls out of use.

    • 01 Feb 2021