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Scrabble expected to sign deals before summer
UBS promotes bankers to replace leveraged finance specialist
Tightening trend in private credit pricing has reversed since April 2, but reliability is funds' trump card
The asset manager sees higher demand than ever as direct lending proves solid during a crisis
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Commodity trader Trafigura has sold US private placements, according to market sources, in its sixth issuance in the market.
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US security firm Allied Universal has launched term loan Bs in euros and dollars, the first leg of the financing for its acquisition of UK rival G4S.
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The detailed rules for the EU Taxonomy of Sustainable Economic Activities look set to come into force, as the European Commission published them on Wednesday, after weeks of intense lobbying and negotiation that had raised the prospect of them being delayed again. Gas will not enter the Taxonomy for now and will be dealt with in separate legislation, but nuclear power could enter the Taxonomy later this year, alarming greens.
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UK gym chain Virgin Active’s restructuring could set a precedent for restructurings of UK retailers. Dozens of retailers have used ‘CVA’ processes to cut their debt burdens, which typically hits their landlords hard but leaves other creditors unscathed. Virgin Active is instead using the new UK ‘super scheme’ restructuring law introduced last year to try to bind landlords and other creditors alike into accepting writedowns.
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European loan bankers were wildly optimistic for their hopes for deal flow in the first quarter, after a new survey from the European Central Bank shows that loan demand was 40% less than expected.
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Hong Kong-listed ESR Cayman, a logistics real estate company, has raised a $400m dual-tranche borrowing.