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Flooring company's bespoke 'super senior funding' was done away from the syndicated loan market
Scrabble expected to sign deals before summer
UBS promotes bankers to replace leveraged finance specialist
Tightening trend in private credit pricing has reversed since April 2, but reliability is funds' trump card
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Chinese retailer Wumei Technology Group has raised a loan of over €1bn to support its acquisition of German company Metro’s Mainland business. -
French aerospace and defence company Safran has set up a new €3bn loan facility.
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Europe’s banks sniff opportunities amid the crisis as they look to build out their corporate broking businesses, but they will face fights to remove incumbents, writes David Rothnie.
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UK pub companies with secured debt structures are asking bondholders to waive covenants and suspend potential enforcement action, as the government-mandated shutdown continues. Bondholders in Punch Taverns Finance B are being asked to feed last year's figures into covenant calculations while the lockdown is in force, in a potential model for the other pub companies struggling with stalled cashflow.
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GlobalCapital's Silas Brown spoke to Mathieu Chabran, co-founder of European alternative asset manager Tikehau Capital. They discussed how the relatively new private debt market in Europe will navigate its way through the pandemic, who the winners and losers will be in the asset class, and what opportunities may emerge from the dust.
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Tianqi Lithium Corp’s rising debt burden since its acquisition of a stake in a Chilean mining company two years ago is causing trouble. The Chinese borrower is seeking covenant waivers and a tenor extension on part of a $3.5bn loan, raising concerns among bankers about the performance of other commodity credits amid the Covid-19 pandemic. Pan Yue reports.
