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LBO financing includes $5.75bn term loan to be priced early next week
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
William Liu joins from K&L Gates
Buyers line up €11bn of debt and equity financing
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Central banks and international financial institutions have raised a storm over vanishing investor protection covenants in leveraged loans. But most warnings about the market have avoided assigning blame where it is richly deserved — to the private equity industry.
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Nothing is scarier than the idea that your risk management is special. Deutsche should look again at its leveraged finance business.
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China's Guodong Network Communications is seeking a debut loan of up to €150m ($170m) in syndication.
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The leveraged finance new issue pipeline has slowed down in Europe. Market participants pointed to weak macroeconomic data, but also the recent alarms about weak covenants.
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Chinese outdoor leisure products developer Bestway Global Holding is tapping the offshore loan market for the first time for an up to $150m borrowing.
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Another poor set of results from Deutsche Bank left analysts wondering if radical reforms announced earlier this year will be enough to stop the bank’s slide.