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The US bank has emerged from its restructuring to record impressive market share gains following a reboot of its financial sponsor and leveraged finance businesses
Firm has added to its London team with seventh partner hire this year
Banker had worked at DB for 14 years
Marco Ferrari joins Stockholm office from Nordea
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Insurance companies taking leveraged loan exposure through open ended funds, rather than CLOs, should cause alarm. Given the liquidity risk inherent in the structures, regulators ought to be watchful.
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French telecoms firm SFR launched a $2.4bn-equivalent refinancing with a lender call on Tuesday afternoon, aiming to lower margins by as much as 100bp despite a poor performance this year, while Eircom closed its repricing on Wednesday evening.
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SMBC has hired Barclays’ head of private loan sales, who had worked at the bank for 10 years before his departure.
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Finnish packaging firm Powerflute held bank meetings in London on Thursday afternoon for its €315m loan package backing its acquisition by Madison Dearborn Partners, as the LBO pipeline in Europe builds.
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An increase in fundraising from financial institutions this year has helped an otherwise sluggish Asia ex-Japan syndicated loan market, as borrowers have found opportunistic windows to cut costs and extend maturities. But as corporate credit growth has slowed, bankers are sceptical about business prospects from the FIG sector, writes Shruti Chaturvedi.
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Cabot Credit Management, the debt purchasing and recovery business, has amended its senior secured revolving credit facility and lowered the margin but kept the same group of lenders.