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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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Several investors have told GlobalCapital of their concern for the outlook of UK universities as borrowers. They worry that the spread of coronavirus will hit revenues, lower the demand from international students and may in the end hasten a shift towards remote learning. -
Christopher Mallon has joined Lazard’s financial advisory team as a senior adviser concentrating on global restructuring, at a time when that line of business is likely to become very busy.
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Chinese hotel company Huazhu Group, previously known as China Lodging Group, is asking lenders’ consent to waive some of the financial covenants on a recent syndicated loan.
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Insolvency and restructuring practitioners have been catapulted into an unprecedented whirlwind of activity by the coronavirus, as even healthy companies suddenly find themselves staring over a financial precipice. In the UK, the government will change insolvency rules to ease these situations, but specialists believe there is more to be gained by using existing laws better.
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JP Morgan has taken an $820m writedown on its book of bridge loans, nearly halving its investment banking revenues for the first quarter. However, the bank is not hurrying to exit these positions. Chief executive Jamie Dimon said “a couple” of its bridges could be syndicated this quarter if conditions are supportive.
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The UK’s Hipgnosis Songs has increased the size of its sterling revolving credit facility, as bankers say that the coronavirus crisis means many more borrowers will look to increase existing credit lines where they can.
