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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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Whitbread, the UK hotel and restaurant company behind Premier Inn, has amended a clause in its debt documentation which could have left it liable for technical default. One source said several companies may have to go through a similar amendment process. -
Logan Property Holdings has joined a few Chinese real estate companies in the offshore loan market, seeking a HK$2bn ($258m) borrowing.
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BMW has raised €200m from a single investor in the Schuldschein market, according to several market sources. Arrangers are talking with Schuldschein investors to gauge appetite for German auto manufacturers as the Covid-19 pandemic wreaks havoc on corporate earnings.
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Italian-American car company Fiat Chrysler Automobiles has signed a €3.5bn bridging facility, as the company becomes the latest to secure bank funding while it waits for calmer times in the capital markets.
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Taiwanese banks have triggered a market disruption clause on a recent loan signed by Indonesian company BFI Finance. The move, which allows lenders to increase the margins they earn on deals, is being considered for numerous other transactions too, GlobalCapital Asia understands.
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Property developer Soho China is in talks with banks for a bridge loan to support its potential take-private deal by private equity firm Blackstone, according to sources close to the situation.
