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Scrabble expected to sign deals before summer
UBS promotes bankers to replace leveraged finance specialist
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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. -
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.
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TVS Supply Chain Solutions, a subsidiary of Indian industrial conglomerate TVS Group, has mandated three banks for a $185m loan that will be syndicated to a small set of banks.
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Sustainable finance specialists are waiting eagerly to see the precise details of the European Union's Taxonomy of Sustainable Economic Activities, the next draft of which will be revealed on Monday.
