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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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Months of bidding for UK retail giant Tesco’s Asia business has finally ended, with Charoen Pokphand Group emerging victorious. Three banks have provided financing to the Thai conglomerate to support the purchase. -
India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.
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The European Union’s Taxonomy of Sustainable Economic Activities, the latest draft of which was released on Monday, has been hailed by promoters as the opening of a new chapter in responsible investing. But the document is complex and much will depend on how market participants use it.
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Alcentra has provided $530m of senior debt to fund the acquisition of medical device maker Lumenis by Baring Private Equity Asia, in the largest direct lending deal the European private debt specialist has done in its history.
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Lead managers added 1% Libor floors to recent dollar loans from Polynt-Reichold and Genesis Care, part of a package of measures to push them over the line as market conditions deteriorated in the last two weeks. But rates have plunged so quickly that these floors are already in the money.
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Some leveraged issuers could avoid covenant breaches thanks to the coronavirus outbreak, according to researchers, by using the "extraordinary, unusual or non-recurring" carve-outs to add back some costs to Ebitda figures.
