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US firms divvy up swaps business in attempt to please banks
In an effort to please their bankers, US corporate treasurers have increasingly been using a mechanism called a risk participation agreement (RPA) as a way to divvy up swaps business to more parties, writes Ross Lancaster.
21 Nov 2019 -
People moves in brief
ING and Rabobank choose markets heads — FIG’s Falth leaves UBS — DZ picks covered bonds boss
21 Nov 2019 -
UK water firms braced for double date with destiny
UK water companies have a tricky December to navigate. The UK opposition Labour Party on Thursday made an election pledge to renationalise them, while they also face regulators' desires to toughen the financial regime under which they operate. Silas Brown reports.
21 Nov 2019 -
Assaf retirement rings GBM restructuring bell
The retirement of Samir Assaf, HSBC’s long-serving head of global banking and markets (GBM), paves the way for a long overdue restructuring of that division. This will test the bank’s new-look management team.
21 Nov 2019 -
Loans in brief: November 22, 2019
Mercuria scales back lenders in US revolver — EDF to sell US nuclear assets to Exelon — SNCF swaps loan tracks to sustainability-linked — Rewe seeks Schuldschein for acquisition debt — Dechra makes success of debut in PP market — AFC scores $140m Kimchi loan as Asian influence in Africa rockets
21 Nov 2019 -
Mercuria scales back lenders in US revolver
Switzerland’s Mercuria has signed a $1.9bn revolving credit facility through its US arm, with the commodity trading company scaling back lender commitments.
21 Nov 2019 -
SSD sellers seek new lenders with ESG mandates
Schuldschein salespeople, ever on the hunt for new investors with deep pockets, are targeting institutions with environmental, social and governance (ESG) portfolios as the trend for green deals flourishes.
21 Nov 2019 -
Mercuria lifts loan to $1.2bn on strong response
Commodities company Mercuria has closed its annual borrowing at a size of $1.2bn after 24 banks joining the deal during general syndication.
21 Nov 2019 -
SNCF swaps loan tracks to sustainability-linked
France’s SNCF has signed a €3.5bn sustainability-linked loan, with the state-owned railway company only able to use the facility from the start of next year after the country’s reform bill is enacted.
20 Nov 2019 -
EDF to sell US nuclear assets to Exelon
Electricité de France is exercising a put option to sell its stake in US nuclear reactor firm Constellation Energy Nuclear Group to its joint venture partner Exelon Corp, more than a decade after it bought it for $4.5bn.
20 Nov 2019
