Syndicated Loans - All Articles

  • Alternative credit is here for the yield

    Institutional private credit is emerging as a competitive substitute for bank lending in Europe, but companies need to remember that alternative lenders define what they are looking for more narrowly than banks.

    • 31 Mar 2021
  • VP heads back to KKR’s credit biz

    Vaibhav Piplapure, widely known as VP, has signed on for a second stint in KKR’s credit business, returning to the firm as a London-based managing director sourcing asset-based finance and speciality lending opportunities.

    • 31 Mar 2021
  • Enel puts more pressure on 2021 KPI with new €1.35bn facility

    Enel has signed a €1.35bn sustainability-linked loan guarantee facility, the latest in a series of debts it has tied to its ability to increase renewable energy capacity.

    • 31 Mar 2021
  • Nordgold latest Russian corp to yield to ESG financing trend

    Nordgold, the Russia-headquartered gold mining company, has become the latest borrower from the country to enter the green financing market after it raised an ESG-linked syndicated loan.

    • 31 Mar 2021
  • More Asian firms join rush for dividend recaps

    Asian sponsor-backed firms are following their Western peers in tapping the loan market for dividend recapitalisations, encouraged by a buoyant stock price and low debt levels. Rashmi Kumar reports.

    • 31 Mar 2021
  • MetLife’s EFL result shows bilateral funding potential

    The fact that a large US insurance company could offer the English Football League better lending terms than UK banks or other investors is revealing. UK lenders are shying away from deals, which has opened the doors to institutional investors. The speed with which a tailor-made EFL deal was done shows how quickly they can replace traditional creditors.

    • 30 Mar 2021
  • MetLife beats banks to EFL deal

    US institutional investor MetLife has offered a more attractive loan package to the English Football League — England's second, third and fourth professional football divisions — than the UK government and bank lenders.

    • 30 Mar 2021
  • Casino refi tightens pricing as investors shrug off Rallye overhang

    Leads have tightened pricing and increased the size of Casino’s maturity-pushing loan and bond refi, with investors keen to buy the company’s turnaround story and looking past the troubles of holding company Rallye, which needs to find a big slug of cash to pay bondholders in 2023.

    • 30 Mar 2021
  • Mizuho hires Lepone to run loan trading

    Mizuho has hired Robert Lepone as head of loan trading EMEA, a newly created job intended to expand the Japanese bank’s loan distribution capabilities.

    • 30 Mar 2021
  • FrieslandCam debuts in SLL in dairy deluge

    Royal FrieslandCampina, the Dutch dairy cooperative, has signed a €300m debut sustainability-linked loan arranged by ING, a week after the Dutch bank helped arrange financing for Belgian dairy cooperative Milcobel.

    • 30 Mar 2021
  • Rethinking dividend recaps

    Asian lenders have often balked at dividend recaps. They should reconsider.

    • 30 Mar 2021
  • Russian corps in loan market ‘as if Covid or sanctions don't exist’

    Russian borrowers are swarming the loan market despite a broader decline in emerging market loan volumes. Borrowers are pushing for tighter margins and longer tenors, as they grapple with the effects of the Covid-19 pandemic and fresh US sanction threats.

    • 29 Mar 2021
  • Infineon signs largest European US PP in years

    German semi-conductor business Infineon, which is Europe’s largest chip maker, has sold $1.3bn of US private placements, according to several market sources, in the largest trade from Europe in almost five years.

    • 29 Mar 2021
  • BNP Paribas top after adding 5% to EMEA loan market share

    BNP Paribas has leapfrogged JP Morgan to become the top bookrunner in EMEA loans this quarter, with the French bank almost doubling its market share. But this increase has yet to play out in the bank’s bond bookrunning activities in the region.

    • 29 Mar 2021
  • SPi in talks for new loan, plans dividend recap

    Philippine company SPi Global, an outsourcing services provider, is understood to be seeking a $300m to $400m loan, some of which will go towards funding a dividend recapitalisation.

    • 29 Mar 2021
  • Huge investor group adopts Net Zero goal

    The financial markets’ stance on climate change has taken a stride forward as 43 asset managers with $23tr of assets including some of the biggest such as BlackRock and Vanguard have joined the Net Zero Asset Managers’ Initiative. A critical mass of investors is now committed to reducing carbon emissions in their portfolios to zero, meaning that companies can be in no doubt which way they have to go if they want to maximise their potential investor base.

    • 29 Mar 2021
  • Zambia-IMF talks resume as defaulted sov continues on path to financial stability

    Zambia and the IMF will resume negotiations on an extended credit facility package, having missed the first deadline.

    • 26 Mar 2021
  • FACC negotiates covenants as airports warn on repeat waivers

    FACC, the Austrian aerospace components company, has amended the financial covenants on its syndicated loan, as large chunks of the EMEA airline sector continue to renegotiate debt tests.

    • 26 Mar 2021
  • Credit Suisse bolsters Levfin team with Bank of America hire

    Credit Suisse has hired the former head of Bank of America’s European leveraged finance capital markets, according to an internal memo seen by GlobalCapital.

    • 26 Mar 2021
  • Political deals tarnish Taxonomy’s claim to science-based objectivity

    The polite world of sustainable finance has collided with the ugly reality of politics in the past week, as open strife has broken out over the European Union’s sustainable finance legislation, especially the Taxonomy. Conservative and progressive elements are battling over a host of issues, above all whether gas power should ever be classed as sustainable, and the validity and even legality of the Taxonomy is being called into question.

    • 25 Mar 2021
  • SSD gears up for market-wide restructuring test

    Schuldschein investors are preparing for a debt restructuring cycle, with "more than a handful" of borrowers said by lenders to be in difficulty. As Germany changed its restructuring laws at the start of the year, some are confident the market can weather the storm.

    • 25 Mar 2021
  • Euro corps push maturities out as loan market softens

    Europe’s high grade loans bankers are facing a lengthening of maturities, as the highly competitive market becomes more receptive — even to the sectors hit the hardest by the pandemic.

    • 25 Mar 2021
  • Lufthansa looks to sell ‘special’ SSD in rare club deal

    Lufthansa is in talks with a number of banks to raise three year money in a Schuldschein deal, according to several sources familiar with the situation.

    • 25 Mar 2021
  • Dividend recaps return as Tricor eyes $700m loan

    Tricor Holdings, owned by investment firm Permira, has brought a rare dividend recapitalisation deal to Asia’s loan market. Pan Yue reports.

    • 25 Mar 2021
  • Debt-laden Douglas leans towards bonds for recovery refi

    Douglas, the highly levered beauty retailer, is finding the bond market more receptive than loans to its turnaround refinancing. It has restructured its debt package to switch €330m of secured loans to bonds. The comeback deal appears still on track, though the PIK notes are being marketed at a punchy 9% yield.

    • 24 Mar 2021
  • Investec attracts new lenders in facility despite challenging environment

    South African lender Investec has secured a syndicated loan facility, with a consortium of 29 international banks. Bank borrowers are continuing to lean on their relationship lenders in South Africa, though the environment in the country remains challenging.

    • 24 Mar 2021
  • Jenoptik doubles initial target with ESG Schuldschein

    German optics maker Jenoptik has sold €400m-equivalent worth of sustainability-linked Schuldscheine, with around 250 investors participating in the euro and dollar deal.

    • 24 Mar 2021
  • Full scale of European loan covenant waivers revealed as 12% need break

    More than one in 10 European companies had to renegotiate covenant waivers on loans to offset a collapse in earnings from the pandemic, and loans bankers say they are still getting requests from borrowers to amend terms.

    • 24 Mar 2021
  • Daewoo E&C builds $200m conventional, Islamic loan combo

    South Korea’s Daewoo Engineering & Construction Co has raised a $200m loan consisting of conventional and Islamic financing tranches, in a deal driven by Middle Eastern banks.

    • 24 Mar 2021
  • Manulife US Reit nabs $250m sustainability-linked loan

    Singapore-listed Manulife US Real Estate Investment Trust has raised a $250m five year sustainability-linked loan from two banks.

    • 24 Mar 2021
  • Masan boosts loan to $350m

    Vietnam’s Masan Group Corp, an investment holding company operating in the food and beverage and consumer retail industries, has increased its borrowing to $350m after receiving strong response from 23 banks during syndication.

    • 24 Mar 2021
  • LondonMetric sells US private placements

    LondonMetric, the listed UK real estate firm, has sold £380m of US private placements, according to market sources. One tranche had a green component, which priced tighter than another coupon with the same maturity.

    • 23 Mar 2021
  • King’s College closes US private placement

    King’s College university has sold US private placements, according to market sources, in the first widely marketed UK university deal seen in the market for 12 months.

    • 23 Mar 2021
  • Merck spin-off launches first slug of $9.5bn debt-raising

    Organon, a spin-off of US pharmaceuticals company Merck, has launched the first $3bn of a $9.5bn capital raising that will give the soon-to-be independent group its own debt capital structure and fund a one-off special dividend to its parent.

    • 23 Mar 2021
  • Greenyard cuts leverage with commercial and state loans

    Greenyard, the Belgian fruit and vegetable producer, has signed a €467.5m financing agreement from commercial and state lenders, cutting its leverage levels and making plans to repay a convertible bond at the end of this year.

    • 23 Mar 2021
  • Belron preps cross-border ESG ratchet loan for chunky divi

    Windscreen repair group Belron, which owns brands such as Autoglass and Carglass, looks set to become the second borrower to raise an ESG-linked leveraged loan in dollars and euros, adding this feature into a broad financing package of new loans and amendments to fund a €1.46bn dividend to owners D’Ieteren Group and CD&R.

    • 23 Mar 2021
  • Moody’s downgrades Sritex on refi risk

    Moody’s downgraded Indonesian textile manufacturer Sri Rejeki Isman (Sritex) by two notches on Monday, as the company faces rising refinancing pressure.

    • 23 Mar 2021
  • R&F, CC Land seek funding for London project

    Property developers R&F Group and CC Land Holdings are jointly looking for a dual currency loan of £476.7m ($653.5m)-equivalent to develop a project in London.

    • 23 Mar 2021
  • Euro PP offers US PP a blueprint for sustainability

    The Euro private placement market has managed something other private debt markets, including US PP, have struggled with: to integrate sustainability into its core.

    • 22 Mar 2021
  • Casino consolidates comeback with new refi

    Following last year’s redemptive refi, French supermarket group Casino is back in the market for another stab at pushing out maturities, cutting its interest burden, and nudging back towards an unsecured capital structure, with a combined bond and loan offering to pay down its 2024 loan.

    • 22 Mar 2021
  • Trafigura adds sustainability KPIs to loan

    Trafigura, one of the world’s largest commodity traders, has completed its European bank facility refinancing to add sustainability-linked targets to its debt, a month after the company made its debut in the Schuldshein market.

    • 22 Mar 2021
  • Formosa sends out RFP for Australia iron ore mine

    Taiwan’s Formosa Plastics Corp is planning a quick return to the loan market, sending out a request for proposals for two loans totalling $930m to support an iron ore mining project in Australia.

    • 22 Mar 2021
  • EU Parliament tries to fight dilution of SFDR

    A leaked letter from the European Parliament, seen by GlobalCapital, shows the Parliament has joined in the debate about the Sustainable Finance Disclosure Regulation, which has been watered down to make life easier for institutional investors. The Parliament is calling for the rules to be strengthened, to help savers know which investments are green and ensure compliance does not become just a “tick box exercise”.

    • 19 Mar 2021
  • Atotech rides on IPO high with dollar and euro loan market facilities

    Atotech, a UK speciality chemicals technology company, has followed up its IPO last month with a $1.84bn-equivalent loan refinancing, with some of the money earmarked for acquisitions.

    • 19 Mar 2021
  • Milcobel swaps crisis debt for term and revolving facilities

    Milcobel, the Belgian dairy cooperative, has signed €166m in term and revolving credit facilities. The company has become the latest to refinance crisis debt taken out during the depths of the coronavirus pandemic.

    • 19 Mar 2021
  • Adani Green raises $1.35bn project finance loan

    India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.

    • 19 Mar 2021
  • Tricor launches loan for refi, dividend recap

    A HK$5.5bn ($708m)-equivalent loan to partly refinance debt taken for investment manager Permira’s leveraged buyout of Tricor Holdings is now open to existing lenders in syndication.

    • 19 Mar 2021
  • Schwarzenegger to sea cucumbers: $750m fund to bridge climate gulf

    An innovative collaboration between six organisations from different sectors has led to the creation of the Subnational Climate Finance Initiative, which will work with local governments in developing countries to fund green infrastructure. The scheme highlights the value — but also the difficulty — of blended finance.

    • 18 Mar 2021
  • Rabobank launches simplified KPI loan but not all convinced

    Rabobank has developed a bilateral loan facility with a margin linked to food waste, in an attempt to homogenise parts of the otherwise bespoke sustainability-linked loan market, but not everyone is convinced that there will be much use for a one size fits all approach to KPIs.

    • 18 Mar 2021
  • Levfin takes on tougher projects in quarter-end smorgasbord

    Complex refis, Covid-hit industries and chunky dividends are the order of the day in levfin, as banks clear out the tougher end of their pipeline in the last weeks of the quarter.

    • 18 Mar 2021
  • Nat Grid plans debt splurge to fund £7.8bn purchase

    National Grid, the UK utility, is planning a loan-funded £7.8bn acquisition of the UK’s largest electricity distribution business from US firm PPL Corp. The deal could see £2.7bn of the utility’s assets sold to PPL.

    • 18 Mar 2021
  • ESG in CEEMEA: 'the ship is moving and people do not want to miss it'

    Despite the disruption that the coronavirus pandemic and, more recently, volatility in global markets have brought to emerging market debt, issuers in the CEEMEA region are not backing away from their pivot towards ESG financing. Though concerns about greenwashing are holding the market back, new sustainability-linked and transition structures are tempting issuers.

    • 18 Mar 2021
  • Indo NBFIs ready loan market comeback as economic recovery fuels fundraising

    Indonesian multi-finance companies are ready to charge back into the loan market after a quiet 2020, as the country’s economy picks up and consumer sentiment improves. Banks are also ready to accept borrowers from the sector, but there are challenges ahead, writes Pan Yue.

    • 18 Mar 2021
  • Fnac Darty reshapes loan stack and repays state debt after convertible bond

    Fnac Darty, the French electronics retailer, has amended and extended its main bank credit lines, shortly after issuing its debut convertible bond as an independent company.

    • 17 Mar 2021
  • MUFG bolsters direct lending, sponsor coverage with senior hires

    MUFG has hired three managing directors to help boost its coverage of private equity sponsors, as well as direct lending.

    • 17 Mar 2021
  • Science-Based Targets questioned as Axa excludes RWE

    The reliability of Science-Based Targets — one of the most promising systems for helping companies decarbonise — has been questioned after RWE, the German power company, was excluded by Axa, the French insurance group, for being too wedded to coal, despite having an approved SBT.

    • 17 Mar 2021
  • Jumbo looks for debut SSD

    Food retailer Jumbo, a privately owned supermarket chain with shops in Belgium and the Netherlands, has launched an inaugural Schuldschein.

    • 16 Mar 2021
  • Polluters: embrace ESG or lose funding choice

    Investors have shunned carbon-intensive and sin sectors this month. The message is clear: if they want to raise capital, companies in dirty industries need to show they are making meaningful moves towards becoming socially and environmentally responsible.

    • 16 Mar 2021
  • Natixis names new acquisition finance heads

    Natixis has promoted two bankers to head its acquisition and strategic finance business, following the departure of Fabrice Croppi to become head of investment banking.

    • 16 Mar 2021
  • Trafigura launches fresh US private placements

    Commodity trader Trafigura has launched US private placements, according to market sources, its second entrance to the market in less than 12 months.

    • 16 Mar 2021
  • Rabobank cooks up food waste-focused bilateral loans

    Rabobank has developed a bilateral loan facility with a margin linked to food waste, in an attempt to homogenise parts of the otherwise bespoke sustainability-linked loan market, making it easier for treasurers to add ESG financing to their capital structures.

    • 16 Mar 2021
  • Indonesian NBFI Chandra Sakti makes comeback

    Indonesian non-bank financial institution Chandra Sakti Utama Leasing has launched a $75m loan into general syndication, with bankers expecting the firm’s modest rise in non-performing loans versus peers to hold it in good stead.

    • 16 Mar 2021
  • Bilateral loans: sound on paper, challenging in reality

    Asian borrowers are showing growing interest in sealing multiple bilateral loans over syndicated deals in a bid to save time and funding costs. But while one-on-one fundraising exercises make sense in the current market environment, issuers should be wary about abandoning syndication entirely.

    • 16 Mar 2021
  • Shui On returns to loans seeking $200m

    Chinese property developer Shui On Land has returned to the loan market after a break of two years. It is seeking a $200m borrowing.

    • 16 Mar 2021
  • Cityplaza One green loan enters syndication

    A HK$5.29bn ($682m) green loan to support the acquisition of Hong Kong-based building Cityplaza One by a Gaw Capital Partners-led consortium has been launched into general syndication.

    • 16 Mar 2021
  • Afreximbank provides loan facility for Moroccan miner

    African Export-Import Bank, the multilateral bank headquartered in Cairo, has provided a term loan to OCP Group, a Moroccan phosphate miner and fertiliser producer.

    • 15 Mar 2021
  • Winter takes sole leadership of MUFG in EMEA

    MUFG has for the first time chosen a single leader for its banking and securities divisions in EMEA. John Winter will take the post from April 1, meaning that the most senior executive in EMEA will be non-Japanese for the first time.

    • 15 Mar 2021
  • CVC coughs up for Douglas clean-up

    CVC and other owners are putting in €220m of new equity to Douglas, the German beauty chain, ahead of a long-awaited refinancing which will see existing subordinated debt made whole — a nice trade for any buyers that bought in at its lows of 33 last year.

    • 15 Mar 2021
  • Urban Logistics houses more debt as Hammerson battles under its own pile

    Urban Logistics, a UK Reit, has taken on a £48m debt facility on top of its bank revolving credit facility, as the property sector piles on new debt. But other companies are starting to show cracks. Retail Reit Hammerson issued grave warnings over its debt pile after posting a £1.7bn loss.

    • 15 Mar 2021
  • Anglo Pacific doubles revolver to fund its largest acquisition

    Anglo Pacific Group, the London-listed mining royalty company, has doubled its revolving credit facility as it takes on more debt to part-fund its $205m acquisition of a new cobalt stream in Canada.

    • 12 Mar 2021
  • Pan Brothers hit with another downgrade on loan default

    Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time this year owing to defaults on a dollar loan.

    • 12 Mar 2021
  • Linklaters makes hires for PE, levfin business

    Law firm Linklaters has added two new partners to its Hong Kong office to strengthen its business in private equity and leveraged finance investments.

    • 12 Mar 2021
  • Victory City’s debt woes build

    Chinese textile company Victory City International Holdings’ financial predicament has taken a turn for the worse as it revealed previously undisclosed outstanding debt at its subsidiaries this week.

    • 12 Mar 2021
  • Sustainable finance gets real

    Hundreds of things happened this week in sustainable finance. That’s normal now — it’s become a fizzing, global market which is ever-present. Anyone who predicted, say, four years ago that sustainable finance would take over the whole capital market probably feels the outcome has exceeded their expectations.

    • 11 Mar 2021
  • Fury as EC considers letting gas into Taxonomy

    Environmentalists were outraged on Thursday to learn from a leaked document that the European Commission is considering the option of including some gas power stations in its Taxonomy of Sustainable Economic Activities.

    • 11 Mar 2021
  • Rash of divi deals emerge as CLO technical supports loan pricing

    Companies unveiled three dividend recap deals this week in a sign that the leveraged loan market remains well bid, thanks to strong CLO formation and a technical shortage of paper so far this year.

    • 11 Mar 2021
  • Etrading targets Luddite loan trading market with software

    Etrading Software has launched a system to ramp up the efficiency of loan trading, enabling dealers to strip out the motley collection of spreadsheets, emails, instant messages still used in the market and centralise crucial information ahead of executing loan trades.

    • 11 Mar 2021
  • Loan volumes plunge as cash-rich corporates shy away

    Europe’s high grade loan bankers are facing a dour end to the first quarter, with volumes down 40% as M&A deals collapse and spendthrift corporates sit on piles of cash.

    • 11 Mar 2021
  • PIF comes to loan market for $15bn revolver

    Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, has signed a $15bn multi-currency revolving credit facility with a syndicate of 17 international banks. Loan market conditions, participants said, are still attractive for borrowers, despite a drought of deals over the last year.

    • 11 Mar 2021
  • Jardine Matheson to fund $5.5bn subsidiary acquisition with loan, cash

    Jardine Matheson, one of Hong Kong’s oldest business giants, is planning to fund a $5.5bn acquisition of a minority stake in its subsidiary through a combination of loan and internal cash.

    • 11 Mar 2021
  • Mphasis sale cancellation dashes LBO loan hopes

    Asia’s leveraged buyout loan market is facing a setback after a planned financing to back the acquisition of Mphasis, an Indian IT services firm, was scrapped as discussions between the buyer and seller fell through.

    • 11 Mar 2021
  • Tricor returns to loan market for refi

    Tricor Holdings is planning a return to the loan market to refinance a HK$2.8bn ($360m) borrowing it sealed in 2016 for a leveraged buyout by investment firm Permira.

    • 11 Mar 2021
  • China’s Hongqiao, Lingyi tap offshore market for loans

    China Hongqiao Group and Guangdong Lingyi iTech Manufacturing Co are seeking loans worth a total of $350m.

    • 11 Mar 2021
  • HSBC sharpens Net Zero policy after shareholder resolution

    HSBC has agreed to tighten its policies on climate transition and coal funding, in response to a shareholder motion calling on it to phase out fossil fuel financing. The move underlines the power investors have to accelerate change on environmental and social issues using shareholder votes, and could raise the bar for other banks.

    • 11 Mar 2021
  • European direct lending could grow by as much as 50%, says Saïd report

    In one of the first pieces of public research on the nascent direct lending asset class in Europe, a report from Oxford University’s Saïd Business School has found that it could grow assets under management by as much as 50% in the medium term, owing to banks retreating from the mid-market and investors looking for higher yields from credit.

    • 10 Mar 2021
  • WH Smith renegotiates debt pile on improved trading

    WH Smith, the UK high street retailer, has extended its bank term credit lines and cancelled a crisis liquidity facility, as the borrower posted better than expected trading figures since the start of the year.

    • 10 Mar 2021
  • Met Group expands term loan a month after shrinking short-term revolver

    Met Group, the Swiss energy trading company, has signed a €120m term loan, increasing the size of its term debt and using some of the same banks that provided revolving credit facilities last month.

    • 10 Mar 2021
  • Lingyi iTech seeks $150m loan

    China’s Guangdong Lingyi iTech Manufacturing Co, a company focused on making magnetic materials, electric motors and electric wires for automobiles, computers and mobile phones, has hit the market for a $150m loan.

    • 10 Mar 2021
  • TLTRO push prompts SSD secondary surge

    The secondary Schuldschein market, typically something of a backwater, has become a torrent of activity and is now busier than the product’s primary market, according to several sources, as banks rush to buy assets ahead of an ECB deadline for cheap funding on March 31. However, there are fewer banks deleveraging from their risk-weighted assets, and many more buyers than sellers.

    • 09 Mar 2021
  • Lone Star looks to reprice pandemic-era underwrite for BASF buyout

    Lone Star is refinancing and pricing the debt incurred for its buyout of BASF Construction Chemicals, one of the bridges hung during the first peak of the Covid crisis a year ago. The original deal required creativity to cross the line, plus a hefty private placement with GSO. Now, however, it looks set to slice up to 100bp off the euro margin, and more from the GSO deal.

    • 09 Mar 2021
  • Greensill’s private status sheltered it from short seller scrutiny

    Short sellers get a lot of stick, whether it is Elon Musk taunting them, an army of Redditors squeezing them or the corporations they target otherwise harassing, suing and investigating them. But they play a vital part in capital markets, as underlined by the Greensill affair — where the finance firm’s private status meant that for too long it could hide from the accountability that short sellers can help deliver.

    • 09 Mar 2021
  • Akbank debuts ESG loan and slashes pricing

    Turkish lender Akbank is in the syndicated loan market with its debut ESG deal, according to sources. The bank has been able to tighten pricing on the refinancing, meaning that it has enough competitively priced funding for it not to need to come to the bond market.

    • 09 Mar 2021
  • Enel takes crown for biggest sustainability loan

    Enel, the Italian energy company, has signed a €10bn sustainability-linked revolving credit facility, taking the title for the largest such deal that was held by Anheuser-Busch InBev for less than a month.

    • 09 Mar 2021
  • Russian nuclear plant in Turkey uses sustainable loan

    Rosatom, the Russian nuclear power company, is using a $300m sustainability-linked loan for part of the financing of Akkuyu, the first nuclear power plant to be built in Turkey — a sign of how fast and far the concept of sustainability-linked finance is spreading.

    • 09 Mar 2021
  • Aoyuan builds $225m loan with nine banks

    Real estate developer China Aoyuan Group has closed a $225m-equivalent dual currency loan with nine banks in the syndicate.

    • 09 Mar 2021
  • Tesco shows investor power by moving fast on healthy food

    Tesco, the UK supermarket chain, has reacted quickly by setting new targets to sell healthier food, less than a month after a group of shareholders filed a resolution calling for this — a sign of how sensitive companies are to having environmental, social and governance motions voted on at their annual general meetings.

    • 08 Mar 2021
  • Infineon launches US private placement

    German semi-conductor company Infineon Technologies has launched a US private placement, according to market sources.

    • 08 Mar 2021
  • FCA Libor end date could trigger some borrowers to switch

    The UK's Financial Conduct Authority has set an expiration date for 35 Libor benchmarks to be December 31 — which loan market participants hope will force some corporates to engage more fully with the transition to risk-free rates.

    • 08 Mar 2021
  • Hongqiao mines for $200m return

    Aluminium producer China Hongqiao Group has returned to the loan market for a $200m borrowing.

    • 08 Mar 2021
  • King’s College seeks cash with PP launch

    King’s College London has launched a private placement debt deal, according to market sources: the first UK university transaction for more than a year.

    • 05 Mar 2021