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Despite the allure of lower loan prices, CLO managers should print deals cautiously
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Leveraged loans in stressed sectors like software carry refinancing risk
LBO financing includes $5.75bn term loan to be priced early next week
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Struggling UK small and medium-sized enterprises could see their debts sold to insurance companies or other institutional investors in a scheme similar to that used to securitize student loans in the country, according to proposals floated by finance lobby group TheCityUK in a report published on Monday.
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Hong Kong-based Lei Shing Hong Credit has added a TaiFX-Libor clause to its new $320m loan, allowing it to offer a margin that is flat to its last transaction.
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Banks leading the acquisition loan for equipment finance firm Boels have increased the size of the distributed portion of the offering and cut the discount on offer, as a strong market backdrop helps clear the hung bridge backlog from before the onset of the coronavirus.
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Marcus John, founder and chief executive of Sports Capital Advisors, tells GlobalCapital to expect a wave of insolvencies in national sport leagues but, he believes, sports with global appeal should fare better after lockdowns ease. Whether TV rights, a key source of revenue for major leagues, will be impacted remains unclear.
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Cambodia’s Prasac Microfinance Institution has increased its latest offshore borrowing to $95m after attracting eight participants during syndication.
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A $5bn take-private of Spanish telecoms operator MasMovil is the first sign of the return of M&A deal-making. But as bankers work frantically behind the scenes to rebuild the market, the big, integrated houses look set to dominate, writes David Rothnie.