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GC Asia
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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.
10 Jul 2020 -
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.
10 Jul 2020 -
Olam mandates four for ¥25bn Samurai loan
Olam International has made a quick return to the loan market, raising a ¥25bn ($233m) Samurai facility.
10 Jul 2020 -
Imperious JP Morgan shows its crisis credentials
JP Morgan has extended its lead in European investment banking, scotching accusations of a retreat and dashing hopes of a change in the status quo, writes David Rothnie.
09 Jul 2020 -
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.
09 Jul 2020 -
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.
09 Jul 2020 -
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.
09 Jul 2020 -
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.
09 Jul 2020 -
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.
09 Jul 2020 -
Mercuria refinancing makes loan bankers hope normality is back
Mercuria, the Swiss commodity trading company, has signed $1.5bn of revolving credit facilities, prompting lenders on the deal to say the European syndicated loan market is returning to normality after the Covid-19 dash for cash.
08 Jul 2020
