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Marco Ferrari joins Stockholm office from Nordea
One major bank has underwritten three infra deals in the last week
Agreement includes accordion facility
Flooring company's bespoke 'super senior funding' was done away from the syndicated loan market
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The €875m acquisition loan for EQT Infrastructure’s purchase of French care home operator Colisée will come with a reduced original issue discount and at the tight end of guidance, but the buyout firm has conceded a ticking fee, as the deal must compete with secondary markets, which are still largely priced at a discount. -
Indian borrowers are finally returning to the offshore loan market after months of little to no action. But even as a pipeline builds, bankers remain wary of challenges around execution. Pan Yue reports.
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NatWest plans to contact around 3,500 of its corporate clients from Thursday to inform them about the end of Libor as a benchmark and what their options and next steps are, as a recent survey showed that the vast majority of companies have not made any tangible efforts towards moving debt facilities to risk-free rates.
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Sheng Ye Capital, a Hong Kong-listed financial services provider, has made its debut in the syndicated loan market. It is raising funds in offshore renminbi.
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US private placement market insiders fear a round of early prepayments, as companies look to wriggle out of the straightjackets of financial covenants and issue public market bonds instead. Amendments brokered at the start of the coronavirus pandemic are up for review now, and sources think these talks will involve tough conversations between borrowers and lenders.
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Almost two thirds of companies are still unprepared for the transition away from Libor, as lenders in London say they are in “intensive” discussions with clients about the switch to risk free rates.
