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Pharmaceuticals and energy transition also ripe sectors for M&A
Munich-based company's deal is one of five launched this month
Big deal joins light supply in January
Bankers say deals are still being launched and believe international rivalry can be negotiated
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China Forestry International Resources (CFIR) is struggling to obtain its lenders’ consent for a covenant waiver on a loan from 2017. The covenant was breached when CFIR’s state-owned parent, China Forestry Group, provided a guarantee for a $150m deal for another subsidiary launched in February.
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The US real estate investment trust Reality Income is planning a £300m bond sale to part finance its acquisition of 12 properties in the UK linked to grocer J Sainsbury’s.
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Switzerland’s Coca-Cola HBC has amended and extended its revolving facility, with the soft drink bottler supersizing its loan to €800m and including a sustainability element.
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The UK competition watchdog has put the kibosh on a merger between grocers J Sainsbury’s and Asda, taking billions of sterling syndicated loans out of a market still recovering from a torrid start to the year.
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John Wood Group, the Scottish oil services company headquartered in Aberdeen, entered the US private placement market late on Wednesday.
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The US’s Occidental Petroleum has swooped in with a roughly $57bn bid for Anadarko Petroleum, drawing battle lines against Chevron’s smaller bid for the shale oil company.