Syndicated Loans - All Articles

  • Trans-Oil set to refresh debt arsenal with loan rollover after selling tightest bond

    Trans-Oil Group, a Moldovan agriculture company, is planning to roll over its one year pre-export finance (PXF) facility this summer, having recently sold its lowest coupon bond. The issuer has had, on occasion, far from a smooth ride in capital markets, including a failed attempt at a bond debut in 2018.

    • 30 Apr 2021
  • Vestas makes debut in sustainability-linked loans

    Vestas, the Danish wind turbine maker, has signed a €2bn-equivalent facility linked to key performance indicators around sustainability. It was the first time the borrower has structured bank debt in this way.

    • 30 Apr 2021
  • UOB’s corporate banking head passes away

    Veteran banker Ronny Chng, from United Overseas Bank has passed away, according to an Asia Pacific Loan Market Association announcement.

    • 30 Apr 2021
  • AAA Oils return for $750m

    AAA Oils and Fats, the trading subsidiary of palm oil company Apical, has returned to the loan market with a $750m facility.

    • 30 Apr 2021
  • Higher capex points to boom in IG corporate bond supply

    Europe’s high grade corporate bond market is set for a glut of supply as companies appear to be loosening the capex purse strings once more. The only debate is about when it will come. With cash piles at near record levels, there is little agreement about when firms will need to fund spending with fresh debt, writes Mike Turner.

    • 29 Apr 2021
  • IG corporate market sees volumes ebb and flow as earnings drip out

    Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.

    • 29 Apr 2021
  • Ares closes record European direct lending fund

    US alternative asset manager Ares has closed an €11bn European direct lending fund, the largest of its kind.

    • 29 Apr 2021
  • Puma Energy secures loan months after failed bond

    The Singapore-incorporated global energy company Puma Energy has bounced back after a planned bond issuance last year failed to materialise, raising $590m in the loan market. Sources say the company’s change of management and reorganisation brought a “sense of relief”.

    • 29 Apr 2021
  • Senior levfin banker joins cannabis sponsor Artemis

    Artemis Growth Partners, an ESG-focused investment platform dedicated to cannabis, has hired JP Morgan's E. Stanton McLean, a managing director in the US bank's leveraged finance business.

    • 29 Apr 2021
  • Pandora adds sustainability gem to bank debt

    Pandora, the Danish jewellery maker, has signed a €950m sustainability-linked loan and in the process become the latest company to repay, early, coronavirus pandemic crisis funding taken out last year.

    • 29 Apr 2021
  • Mars Capital sells Irish risk as Arrow buyout heats up

    Mars Capital, now a subsidiary of Arrow Global, has probably sold controlling positions in two Irish reperforming loan portfolios, securitized in RMBS transactions Grand Canal 1 and 2, with the Grand Canal 1 portfolio rapidly returning to the market in a Morgan Stanley-backed deal announced on Wednesday. The move comes as TDR Capital’s bid for Arrow heats up, with shareholders now ready to vote on approval.

    • 29 Apr 2021
  • Origin Housing raises £125m in private placement market

    Origin Housing, a housing association with homes in and around London, has sold £125m of US private placements – one of the bigger deals from the sector.

    • 29 Apr 2021
  • BNP Paribas hires levfin head for Germany

    BNP Paribas has hired Boris Funke as head of leveraged finance capital markets in Germany, giving him responsibility for expanding the bank's sponsored and corporate sub-investment grade franchise in the region.

    • 28 Apr 2021
  • Cloetta cuts commitment fees in loan refinancing

    Cloetta, the Swedish confectionery maker, has refinanced krona and euro bank debt while reducing its bank fees by halving its revolving credit facility.

    • 28 Apr 2021
  • IFC doubles Agricole risk transfer, expects wave of EM deals

    Crédit Agricole has struck a new synthetic risk transfer deal with the International Finance Corporation, in which it will shed about 90% of the risk on $4bn of emerging market trade finance loans. The IFC expects to use securitization more to help banks in developing countries cope with the effects of the coronavirus pandemic.

    • 28 Apr 2021
  • Trafigura records largest ESG-linked US PP

    Commodity trader Trafigura has closed a $203.5m US private placement. It is the largest sustainability-linked issue on record, according to GlobalCapital analysis, and signals the PP market is taking ESG financing more seriously.

    • 28 Apr 2021
  • Chow Tai Fook pays up for HK$4bn loan

    Hong Kong jewellery company Chow Tai Fook has returned to the loan market for its annual borrowing.

    • 28 Apr 2021
  • Saudi’s Red Sea Project signs green loan

    Saudi Arabia's Red Sea Development Company has raised a green loan, marking the second deal of its kind raised in the kingdom and the first in local currency. Funds will be used to support the development of the country's new tourist attraction, the Red Sea Project.

    • 27 Apr 2021
  • Finnair negotiates loan covenant as losses rise

    Finnair has renegotiated the covenants on its €175m revolving credit facility, as the company endured a quarter of sizeable losses and increased its annual cost savings target for the third time since the coronavirus pandemic began.

    • 27 Apr 2021
  • Tunisia CB chief: IMF first, capital markets later

    As its debt-to-GDP ratio inflates and its public finances come under pressure, some have wondered if Tunisia will succumb to a debt restructuring process. But the governor of the Central Bank of Tunisia, Marouane El Abassi, told GlobalCapital that the country is intent on securing new IMF funding as a prerequisite to entering capital markets.

    • 27 Apr 2021
  • Genertec makes $700m loan return

    Chinese state-owned company Genertec Universal Medical Group has returned to the loan market to syndicate a $700m-equivalent deal.

    • 27 Apr 2021
  • Investec launches loan trading desk in New York

    South Africa's Investec has launched a proprietary secondary loan trading desk in New York, having recruited a senior trader to lead it.

    • 26 Apr 2021
  • Lonza Specialty Ingredients leads out heavy dealflow

    Another heavy primary week in European leveraged finance swung into action on Monday, with the bond leg of the buy-out financing for Bain and Cinven’s Sfr4.2bn purchase of Lonza Specialty Ingredients among the highlights.

    • 26 Apr 2021
  • Hochtief follows bond with loan in debt markets double tap

    Hochtief, the German construction company, has followed up its bond outing with a revolving credit facility. The deals see the company take on around €750m of debt in the run-up to its annual general meeting.

    • 26 Apr 2021
  • Gulf Energy looks wide for $5.3bn acquisition financing

    Thailand’s Gulf Energy Development Public Co is in talks with a large group of banks for a bridge loan of about Bt170bn ($5.3bn) to support its acquisition of Intouch Holdings. Pan Yue reports.

    • 26 Apr 2021
  • L&G offers housing association first sustainability-linked private placement

    Legal & General has lent Believe Housing, a UK housing association, £85m with margins tied to its energy transition. This is the first sustainability-linked private placement in the UK social housing sector, according to GlobalCapital research.

    • 26 Apr 2021
  • MDBs group together to fund Egypt solar plant

    A consortium of international lenders is funding the development of Egypt’s largest solar plant.

    • 23 Apr 2021
  • Alfa Laval refis senior bank debt after ratings wobble

    Alfa Laval, a Swedish heating engineering company, has refinanced a €700m revolving credit facility, months after the company’s credit ratings came under heavy pressure for an ultimately failed acquisition attempt.

    • 23 Apr 2021
  • Investors want more, more, more as Jumbo closes Schuldschein

    Jumbo, a privately owned supermarket chain with stores in Belgium and the Netherlands, has closed a debut Schuldschein at €200m, according to market sources. New deals are proving popular, as low levels of deal flow cannot slake investors' thirst for assets.

    • 23 Apr 2021
  • UPL bumps up SLL to $750m on strong support

    Indian agrochemical company UPL Corp has received strong response for its sustainability-linked loan during general syndication, allowing it to increase the size to $750m.

    • 23 Apr 2021
  • Taxonomy’s troubled birth shakes its power to green markets

    Market participants will embark in the coming weeks on the difficult task of working out how to use the European Union’s sustainable finance Taxonomy, after the first criteria were published this week. In doing so, they will be conscious that the smooth tide of green finance is now breaking against the hard reality of power politics and resistance by fossil fuel industries — a clash that is rocking the Taxonomy’s credibility, writes Jon Hay.

    • 22 Apr 2021
  • Iberdrola and Clarion ditch Libor from deals on day one of signing

    Iberdrola, the Spanish utility, and Clarion Housing, the UK housing association, became the latest companies to sign loans using risk-free rates instead of Libor, as more deals are signing that ditch the scandal-ridden benchmark from day one.

    • 22 Apr 2021
  • Sector trumps structure as tech, pharma fly despite leverage

    Investors appeared happy to tolerate soaring leverage in favoured sectors, such as tech or pharma, on Thursday, while Covid-19 recovery candidates are beginning to look expensive, as much of the rally that began in November has played out.

    • 22 Apr 2021
  • Iberdrola weans itself off Libor in new €2.5bn SLL

    Iberdrola, the Spanish utility, has signed a €2.5bn sustainability-linked loan, becoming the first Spanish company to use risk-free rates as a benchmark instead of Libor.

    • 22 Apr 2021
  • Airtel Africa calls on international lenders for cash

    Airtel Africa, the UK telecommunication company providing services across Africa, has raised $500m from a range of international lenders. It becomes one of the latest Africa-based issuers to inject activity into the syndicated loan market.

    • 22 Apr 2021
  • Trafigura sells sixth batch of US private placements

    Commodity trader Trafigura has sold US private placements, according to market sources, in its sixth issuance in the market.

    • 22 Apr 2021
  • Who’s the banker in the black?

    Let history show that even though no one even kicked a ball in the European Super League, it still had a winner: JP Morgan.

    • 22 Apr 2021
  • Allied launches loans for G4S buy

    US security firm Allied Universal has launched term loan Bs in euros and dollars, the first leg of the financing for its acquisition of UK rival G4S.

    • 21 Apr 2021
  • Taxonomy ducks gas and caves on bioenergy

    The detailed rules for the EU Taxonomy of Sustainable Economic Activities look set to come into force, as the European Commission published them on Wednesday, after weeks of intense lobbying and negotiation that had raised the prospect of them being delayed again. Gas will not enter the Taxonomy for now and will be dealt with in separate legislation, but nuclear power could enter the Taxonomy later this year, alarming greens.

    • 21 Apr 2021
  • DIC Asset sells €250m of ESG SSD

    DIC Asset, the German commercial real estate company, has sold €250m worth of Schuldscheine. The debt’s margin is tied to the sustainability of the borrower’s property portfolio.

    • 21 Apr 2021
  • Train lessor Akiem sells green private placements

    French train lessor Akiem has issued €290m of green US private placements, joining the likes of LondonMetric, Montea and King's College in drawing the market further into green and sustainable finance.

    • 21 Apr 2021
  • Coats adds ESG to bank debt as KPIs remain in focus

    Coats, the UK industrial thread producer, has signed a $360m loan, adding environmental, social and governance metrics to its bank debt for the first time.

    • 21 Apr 2021
  • ChemChina opts for bilateral loans to raise $3.85bn for refi

    China National Chemical Corp (ChemChina) is raising multiple bilateral loans worth about $3.85bn to refinance a deal maturing in early May, ditching syndication in favour of one-on-one agreements with banks. But while the cost benefits may be appealing, such an approach by borrowers is unlikely to be sustainable in the longer run. Pan Yue reports.

    • 21 Apr 2021
  • Metalloinvest secures credit line amid ongoing Russia volatility

    Russian steelmaker Metalloinvest has secured a $350m credit line from international lenders. Metalloinvest is the second Russian corporate to tap international lenders since fresh sanctions were announced against Russia by the United States.

    • 20 Apr 2021
  • Virgin Active restructuring to set high street precedent

    UK gym chain Virgin Active’s restructuring could set a precedent for restructurings of UK retailers. Dozens of retailers have used ‘CVA’ processes to cut their debt burdens, which typically hits their landlords hard but leaves other creditors unscathed. Virgin Active is instead using the new UK ‘super scheme’ restructuring law introduced last year to try to bind landlords and other creditors alike into accepting writedowns.

    • 20 Apr 2021
  • Sovcomflot defies Russia sanction risk to come to market

    Sovcomflot, the majority state-owned Russian shipping company, defied some market participants' expectations on Tuesday by coming to market to raise dollar debt just days after a fresh wave of US sanctions on Russia.

    • 20 Apr 2021
  • European loan demand comes in well below expectations for Q1

    European loan bankers were wildly optimistic for their hopes for deal flow in the first quarter, after a new survey from the European Central Bank shows that loan demand was 40% less than expected.

    • 20 Apr 2021
  • ESR bags $400m loan

    Hong Kong-listed ESR Cayman, a logistics real estate company, has raised a $400m dual-tranche borrowing.

    • 20 Apr 2021
  • Ping An goes wide for $500m borrowing

    Ping An International Financial Leasing, a wholly-owned subsidiary of China’s Ping An Group, is casting a wide net for its $500m loan comeback, in a bid to diversify its financing sources — and its banking relationships.

    • 20 Apr 2021
  • JP Morgan provides €3.5bn for controversial football Super League

    JP Morgan has emerged as the lender to a new Super League in European football. The US bank is committing to provide at least €3.5bn in debt for infrastructure projects, in the biggest shake-up of the world’s most popular sport in a generation. While highly controversial and not short of criticism, the new league will make its founding clubs more attractive investments.

    • 19 Apr 2021
  • Clarion switches to Sonia for sustainability loan

    Clarion Housing, the UK housing association, has signed a £100m sustainability-linked loan, with the borrower using Sonia as the pricing benchmark for the first time.

    • 19 Apr 2021
  • PTPN signs loan extension

    Indonesia palm oil company Perkebunan Nusantara III (PTPN) has signed an extension agreement for a $390.6m loan after almost a year-long discussion with banks.

    • 19 Apr 2021
  • Nordic Infrastructure gets €200m green loan for acquisitive portfolio company

    Nordic Infrastructure, a Swiss industrial holding company, has signed a €200m green loan, with the company planning on using part of the proceeds on its acquisitive portfolio company Solör Bioenergy.

    • 16 Apr 2021
  • Prasac trims pricing on loan return

    Cambodia’s Prasac Microfinance Institution has returned to the loan market for $200m, narrowing pricing by 35bp compared to its last transaction in 2020.

    • 16 Apr 2021
  • Mind ID seeks $1.5bn in general syndication

    Mining Industry Indonesia (Mind ID) is testing lenders’ appetite for a $1.5bn dual-tranche loan that has been launched into syndication through a group of eight banks.

    • 16 Apr 2021
  • PP heavyweight resigns at Santander

    Santander’s head of private placements has resigned from the bank.

    • 15 Apr 2021
  • PP investors weigh up governance as UK schools face crisis

    Institutional investors are weighing up governance at elite UK private schools after a series of serious sexual assault allegations emerged from the sector. As certain private schools look for new deals to add to the £500m they have already raised, investors are focusing on how schools have handled the ensuing crisis.

    • 15 Apr 2021
  • EU eyes separate gas law, leaves harmful bioenergy in Taxonomy

    The European Commission is set to put forward a new solution to the intense battle over the EU's sustainable finance Taxonomy, between green finance supporters and EU member states that want to safeguard their plans to use gas, GlobalCapital has learned. This would appear to involve leaving gas out of the sustainable category of the Taxonomy, as environmentalists have demanded, and making a "separate legislative proposal" to deal with gas and nuclear power.

    • 15 Apr 2021
  • CBRT rate hold calms markets but woes far from over

    The Central Bank of the Republic of Turkey on Thursday held its key interest rate at 19% despite fears that new governor and low interest rate champion Şahap Kavcıoğlu would cut rates. But despite the policy move, investor anxieties remain.

    • 15 Apr 2021
  • Cimpress preps cleanup of costly Apollo crisis debt

    Cimpress has launched a cross-border term loan ‘B’, aiming to raise more first lien debt at tight levels to allow it to clean up its costly 12% second lien facility raised from Apollo last April.

    • 15 Apr 2021
  • Total Produce signs $1.44bn of debt for Dole merger

    Total Produce, the Irish fresh produce company, has signed $1.44bn of loans to finance its transatlantic merger with US fruit and vegetable producer Dole Food Company.

    • 15 Apr 2021
  • Ukraine central bank chief Shevchenko on independence, IMF cash and PrivatBank

    Ukraine is once more at the forefront of emerging market investors' worries as military tensions with Russia escalate. Amid the uncertainty, Ukraine is fighting another uphill battle to access IMF funding in order to recover its economy as soon as possible. The governor of the National Bank of Ukraine, Kyrylo Shevchenko, spoke to GlobalCapital about the challenges the country is facing and the importance of central bank independence.

    • 15 Apr 2021
  • African borrowers trickle into syndicated loan market

    Amid a broader downturn in emerging market syndicated loans, several African issuers — including sovereigns — are seeking debt facilities from international lenders.

    • 15 Apr 2021
  • Wilmar launches $1bn loan

    Singapore’s agribusiness company Wilmar International has returned to the loan market for a borrowing of up to $1bn.

    • 15 Apr 2021
  • Surrey Univ follows King’s into US PPs

    The University of Surrey has issued a US private placement, according to market sources, less than a month after King’s College, London returned to the market. Institutional investors are regaining confidence in the UK’s higher education sector, after a year in which revenues shrank and student intake became uncertain.

    • 14 Apr 2021
  • Lloyds picks resources banker to lead ESG team

    Lloyds Bank has appointed a senior banker to lead a new 16 strong team structuring environmental, social and governance products and services for companies in the UK, and plans to hire further staff externally.

    • 14 Apr 2021
  • Belgian Reit Montea sells green US private placements

    Montea, the real estate investment trust in Belgium, has sold €235m of green US private placements. The deal is the latest in a succession green trades to hit the market.

    • 14 Apr 2021
  • Finastra and Hubx team to bring digitalisation to loan market

    Finastra and Hubx, two UK fintechs, have partnered to create a new syndicated loan tool that the companies claim completely digitises the bookrunning process, as the loan market makes its slow trudge away from manual processes.

    • 14 Apr 2021
  • Taiwan’s Chailease, Jih Sun make loan return

    Chailease International Leasing Co, a Vietnam-based subsidiary of Taiwan’s Chailease Finance, is gearing up to launch an up to $100m loan.

    • 14 Apr 2021
  • Freeport mines loan comeback

    Freeport Indonesia, a copper mining company, is in talks with banks for a new $750m loan for capital expenditure, after being forced to cancel a larger facility last year owing to the Covid-19 pandemic.

    • 14 Apr 2021
  • PIC appoints Macquarie to manage PP investments in US

    UK specialist insurer Pension Insurance Corporation has appointed Macquarie to manage money on its behalf, focusing on private placements from US borrowers.

    • 13 Apr 2021
  • UniCredit beats Landesbanks to top spot in Schuldschein market

    UniCredit swept away the Landesbanks in the Schuldschein market last quarter to claim pole position so far this year, with an arranging market share of nearly 20%.

    • 13 Apr 2021
  • Global loan trade bodies publish Social Loan Principles as sector grows

    The three global loan associations have launched the Social Loan Principles (SLP), as the ESG finance market expands beyond its environmental roots.

    • 13 Apr 2021
  • Sovcomflot seeks dollars as Russia-Ukraine tensions mount

    Sovcomflot, the shipping company majority-owned by the Russian state, is planning to enter the debt capital markets. But the dollar bond mandate comes at a tricky time as military escalation between Russia and Ukraine has caused investor confidence of assets on both sides to fall.

    • 13 Apr 2021
  • Euronav docks sustainability-linked loan as ship finance steers towards ESG

    Euronav, the Belgian tanker company, has signed a sustainability-linked revolving credit facility, as the shipping industry comes under increasing scrutiny over its carbon output.

    • 13 Apr 2021
  • Lufthansa raises money in quirky Schuldschein club deal

    Lufthansa has issued a quirky Schuldschein this week, according to market sources, in that it was bought by the eight banks that arranged it, rather than being sold to investors.

    • 13 Apr 2021
  • Sogo’s Future Development pays up for refi

    An affiliate of department store Sogo Hong Kong has returned to the loan market for a HK$8bn ($1bn) deal to refinance a borrowing from 2016.

    • 13 Apr 2021
  • Veteran banker Shah exits Credit Suisse

    Riddhi Shah, head of Asia Pacific financing group (AFG) trading at Credit Suisse, has resigned after more than two decades with the Swiss bank.

    • 13 Apr 2021
  • ‘Cascade of deals’ floods into levfin primary market

    With holidays and earning out of the way and markets wide open, four new high yield bonds and two big term loans hit the market on Monday, constituting more than $11bn of internationally-targeted supply in total, with more than €4.5bn of euros in the mix.

    • 12 Apr 2021
  • Aramco the latest oil co to bring pipeline deal

    Saudi Aramco has raised cash from an investor consortium by leasing a section of its pipelines, following a similar deal from Abu Dhabi National Oil Company (Adnoc) last year. Other Middle East oil companies may follow suit amid concerns over the future of the oil prices.

    • 12 Apr 2021
  • Dandara finds home for green revolver

    Dandara Living, a UK residential property developer, has signed a £60m green revolving credit facility, as real estate companies continue to be some of the heaviest users of the debt markets this year.

    • 12 Apr 2021
  • Pricing widens on Akbank ESG loan though new lenders join

    Turkish lender Akbank has managed to roll over a syndicated loan, which also marks its debut piece of ESG financing. However, pricing widened beyond expectations owing to heightened volatility in both domestic and international markets.

    • 12 Apr 2021
  • Wendel links loan to female leadership

    Wendel, the French private equity firm, has amended a €750m revolving credit facility to add ESG elements, including one for higher female representation in leadership positions, as more investment houses make social equality a focus.

    • 09 Apr 2021
  • SF's Kerry loan oversubscribed by sub-underwriters

    Chinese delivery company SF Express Co’s loan to support its acquisition of Kerry Logistics Network has received strong support from banks in senior syndication.

    • 09 Apr 2021
  • Golden Eagle checks out with $601m from 15 banks

    Chinese department store operator Golden Eagle Retail Group has closed a $601m-equivalent refinancing loan with 15 lenders.

    • 09 Apr 2021
  • M&A surge cannot slake debt markets’ thirst for deals

    Debt markets are awaiting a wave of mergers and acquisition financings in the second quarter and later this year, as the boom in deals sparked by confidence that the economy is recovering from the coronavirus gathers steam. But the eagerness to lend will create tension between loan and bond markets, and deals are likely to get more challenging later in the year, write Mike Turner and Jon Hay.

    • 08 Apr 2021
  • SDRs: better late than never

    The announcement this week that the IMF is on its way to issuing a further $650bn of special drawing rights, providing central banks with extra foreign currency liquidity, should not be criticised for being too little, too late. It marks a much needed return to multilateralism, something that the developing world will benefit from.

    • 08 Apr 2021
  • Comeback kid Röhm lines up par refi

    Röhm, the renamed Evonik Specialty Chemicals, is back in the market looking to refinance its 2026 €997m term loan 'B' near par, following a surprisingly strong performance through 2020.

    • 08 Apr 2021
  • TI Fluid adds unsecured HY layer

    TI Fluid Systems, an auto parts company, is marketing its first unsecured debt, a €600m eight year non-call three, which it plans to use to repay part of its secured debt. It has also launched repricing on this loan, looking to cut margins and reset Euribor floors to market standard levels.

    • 08 Apr 2021
  • BNP Paribas bankers in Spain leave for boutique firm

    A group of BNP Paribas bankers in Spain have jumped ship to join boutique firm Beka Finance, according to market sources. One person familiar with the situation said that the French bank will refill these roles in due course.

    • 08 Apr 2021
  • HSBC brings back Horsburgh for UK role

    HSBC is relocating the regional head of its leveraged and acquisition finance (LAF) business from Hong Kong to London to help implement its UK strategy.

    • 08 Apr 2021
  • BlackRock signs ESG ‘milestone’ loan tied to employee equality

    BlackRock has signed a $4.4bn revolving credit agreement linked to gender and racial diversity metrics, becoming one of the most prominent companies globally to use key performance indicators focused on staff equality in its main bank line.

    • 08 Apr 2021
  • Greater China loan momentum builds as low pricing, liquidity boost interest

    Greater China issuers are eagerly turning to the international loan market again for funding, encouraged by low pricing and flush liquidity to refinance debt early and raise new money. But there are still many roadblocks, with banks cautious about predicting a quick recovery to pre-Covid levels. Pan Yue reports.

    • 08 Apr 2021
  • Retailer TEDi launches Schuldschein

    German retailer TEDi has launched a Schuldschein, in the first deal to hit the market since the Easter break.

    • 07 Apr 2021
  • ICBC’s financial institutions head moves on

    Iqbal Nasim, head of financial institutions at ICBC (London), will leave the bank in the middle of April to set up a desk at a smaller Asian lender.

    • 07 Apr 2021
  • ELFA, LMA to publish ESG guidance on lev loans

    The European Leveraged Finance Association and the Loan Market Association are teaming up to produce guidance for incorporating ESG criteria into leveraged loan terms, with a timeline to publish standards by the end of April. The aim is to provide the infrastructure for the leveraged loan market to adopt ESG standards more widely.

    • 07 Apr 2021
  • Trump exit unleashes Financial Stability Board to act on climate

    The G20’s Financial Stability Board is cranking up its action on climate change again now that Donald Trump is no longer US president. This will feed the hopes of some sustainable finance supporters who want the FSB to drive progress on issues including environmental accounting.

    • 07 Apr 2021
  • Drax purchase gets regulatory nod as lenders expect busy Q2 M&A

    Drax, the UK power generation company, has had the final approvals waived through for its £226m-equivalent debt-funded acquisition of Canada’s Pinnacle Renewable Energy, as debt bankers say the M&A pipeline is strong for the second quarter.

    • 07 Apr 2021
  • HKBN makes quick return for HK$5bn loan

    Hong Kong Broadband Network has returned to the loan market for a HK$5bn ($643m) deal for refinancing.

    • 07 Apr 2021
  • Recurring revenue lending must protect its brand

    When hot new debt products are on the march, someone will always push the boundaries beyond what is tolerable. In the case of recurring revenue loans, that would be a mistake.

    • 06 Apr 2021