Investment Grade

  • Segro launches private placements

    Segro launches private placements

    Segro, the FTSE 100 UK real estate investment trust, has entered the private placement market with an initial target of €250m.

  • Dalata wins loan covenant break as tourism reopens

    Dalata wins loan covenant break as tourism reopens

    Dalata, the Irish hotel group, has amended its main revolving bank facility to increase the size to €364m and take a break from covenant reporting. Loans bankers say the hospitality industry will still need more concessions from lenders, despite starting to reopen across Europe.

  • Corona crisis plunges UK university assets into uncertainty

    Corona crisis plunges UK university assets into uncertainty

    UK universities face financial peril. Having been shuttered due to the coronavirus pandemic, some risk going bust, according to the Institute for Fiscal Studies (IFS). Meanwhile, as accommodation operators grant refunds to students who are locked out and locked down, CMBS deals backed by student accommodation may survive, if sufficient numbers return to residences when the next academic year begins. Silas Brown and Tom Brown report.

  • UK corporate bond markets at loggerheads over Sunak stimulus

    UK corporate bond markets at loggerheads over Sunak stimulus

    UK chancellor of the exchequer Rishi Sunak announced a stimulus package totalling up to £30bn on Wednesday, driving a wedge between some bankers and investors about how big an impact the measures will have on the capital markets.

  • Borregaard latest Norwegian to sign sustainability loan

    Borregaard latest Norwegian to sign sustainability loan

    Borregaard, the Norwegian paper and chemicals company, has signed sustainability-linked credit facilities totalling Nkr1.5bn (€140m), days after Klaveness brought the loan structure to Norway’s shipping industry.

  • Huawei: the Schuldschein deal that never was

    Huawei: the Schuldschein deal that never was

    Huawei Technologies, sanctioned by the US and now having its participation in the UK's 5G network questioned by the government, looked into raising hundreds of millions of euros in the Schuldschein market two years ago. But concern that buyers would freeze at a groundswell of negative news, whipped up in part from the US, scared the Chinese company off taking the risk. Its increasing isolation in major European countries means it is unlikely to use its capital markets any time soon.

  • PTPN seeks consent for debt restructuring

    PTPN seeks consent for debt restructuring

    Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.

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