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GC Asia
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Pimco names new head of European private credit
Global investment firm Pimco has hired a new portfolio manager and managing director, who will serve as head of private credit in Europe. With this hire, Pimco is looking to bolster its special situations business in Europe.
18 Sep 2020 -
Workspace launches US private placements
Workspace, the FTSE 250 real estate investment trust, has launched US private placements, according to market sources.
18 Sep 2020 -
Iberdrola turns to ICO for fourth green loan
Iberdrola, the Spanish energy company, has signed another green loan from Instituto de Crédito Oficial, months after getting financing from the lender for other renewables projects.
18 Sep 2020 -
Formosa seeks $2bn, set to create new pricing benchmark for Taiwan loans
Taiwan’s Formosa Plastics Corp has sent out a request for proposals for a $2bn loan to support its Vietnam business. Bankers expect pricing on its deal to reach a new low for borrowers from Taiwan — and set a benchmark for future transactions.
18 Sep 2020 -
Job loss fears rampant as pandemic pummels corporate debt volumes
Despite the financing that two jumbo acquisitions revealed this week would require, loans bankers fear that with no end to the coronavirus pandemic in sight and entire industries reeling from the fallout of lockdown, their jobs will soon be on the line. Mariam Meskin and Mike Turner report.
17 Sep 2020 -
RBC looks for another lift after 10 year build
RBC Capital Markets’ expansion in European investment banking came in the aftermath of the global financial crisis. A decade on, the coronavirus pandemic has presented it with a very different set of challenges.
17 Sep 2020 -
Nvidia and GardaWorld travel across the Atlantic to swoop on UK companies
Nvidia, the US technology company, has agreed to buy UK chipmaker Arm Holdings for up to $40bn in cash and shares, while UK security firm G4S is fighting a £3bn hostile bid from Canadian rival GardaWorld, as the coronavirus pandemic brings out buyers.
17 Sep 2020 -
SSD bankers push back against troubled borrowers
Schuldschein arranging banks have long claimed to be the market's gatekeepers as far as borrowers looking for access are concerned, rejecting lower quality credits to keep the standard high. As the market expanded in recent years and a richer variety of companies borrowed from it, this became a less convincing claim. But as the coronavirus pandemic rocks Europe, Schuldschein bankers say they have declined several requests from companies from risky sectors.
17 Sep 2020 -
Icelandair share sale imminent after loan finalised
Icelandair, Iceland’s flag carrier airline, has finalised documentation on a $120m state-backed loan from domestic lenders, which is contingent on the company completing an equity raise.
17 Sep 2020 -
Geox finds fit for ECA-backed loan
Geox, the Italian shoe company, has signed a €90m export credit agency backed loan, days after the company announced a business restructuring of its North American operations.
16 Sep 2020
