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Big deal joins light supply in January
Bankers say deals are still being launched and believe international rivalry can be negotiated
Banks accept some deals will bypass them — others they can intermediate
Sectors shape up as main sources of corporate syndicated lending demand amid renewed geopolitical uncertainty
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Some M&A bankers said they plan to pull the trigger on deals after the summer if the coronavirus pandemic continues to be contained, though lenders warned that internal credit analysis has become more stringent.
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Schuldschein bankers are working out what pricing is fair during the Covid-19 crisis, as investors observe sharp widening in euro bond spreads.
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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.
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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.
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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.
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Bank Rakyat Indonesia is planning a return to the offshore loan market. It is inviting banks to bid for a new deal.