Investment Grade

  • BP raises $10bn in new revolving facility

    BP raises $10bn in new revolving facility

    BP, the UK oil and gas company, has set up a new $10bn revolving credit facility, as oil companies look to shore up their cash positions in response to the twin maladies of Covid-19 and a drop in oil prices.

  • India’s Adani returns to the PP market for more

    India’s Adani returns to the PP market for more

    Adani Transmission has raised a further $90m US private placement, according to market sources, after it became earlier this year the first Indian company to raise debt in the market since 2007.

  • Riverside brings Sonia loans to UK social housing

    Riverside brings Sonia loans to UK social housing

    Riverside Group has signed what it claims to be the first loan in the UK's social housing sector priced over the Sterling Overnight Index Average (Sonia), as signs of innovation continue in the loan market despite the crushing effect of the coronavirus pandemic.

  • PLN braves tough market for $1bn loan

    PLN braves tough market for $1bn loan

    Indonesian power company Perusahaan Listrik Negara has sent out a request for proposals (RFP) to a large group of banks, aiming to raise a new offshore loan despite the impact of the coronavirus on bank demand.

  • Daimler gears up on cash as companies hurry new lines of credit

    Daimler gears up on cash as companies hurry new lines of credit

    Daimler has signed a €12bn one year loan with four banks, to strengthen its cash position for the pandemic’s stormier days. It joins a host of borrowers agreeing new credit lines with relationship banks, rather than drawing down existing facilities. Bankers say the borrowers hope to enter the bond markets down the line.

  • Covid-19 sends IG loan volumes tumbling

    Covid-19 sends IG loan volumes tumbling

    Investment grade syndicated loan volumes in Europe have plunged almost 45% year-on-year, as the Covid-19 coronavirus tears into demand for bank credit.

  • Loans in brief: April 3, 2020

    Imperial Tobacco signs new RCF, no plans for drawdown — British Airways stretches dollar revolver maturity — Fiat Chrysler bridge loan in place as HY remains shut — Shell builds cash pile again with $12bn revolver

  • Dyson first UK firm to sell PPs under clouds of Covid-19

    Dyson first UK firm to sell PPs under clouds of Covid-19

    Dyson has become the first UK company to sell private placements in the past month, as the coronavirus complicates primary issuance and the market instead focuses on amendments to existing deals. Sources said the UK manufacturer succeeded because it was realistic over the price it would have to pay.

Investment grade loans news archive