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Innovation and ambition have been hallmarks of mergers and acquisitions activity this year, but there are some signs of weakness in private equity
Leveraged loans in stressed sectors like software carry refinancing risk
Ferrero International markets €300m deal
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Arab Republic of Egypt’s bonds have rallied 50bp since last week with investors acting on a positive endorsement from Standard & Poor’s. Analysts say that any positive signals or third party endorsements will become increasingly important to the buyside as credit differentiation comes into play. -
Details have emerged on the jumbo loan restructuring process for Turkey’s Yildiz Holding, with a spate of the company’s subsidiaries refinancing debt totalling $535.7m with the holdco’s creditors, while simultaneously shifting liabilities upwards in the capital structure.
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Chinese telecommunication company ZTE, which is asking for a covenant waiver on a $450m loan, is set to get some relief after US president Donald Trump said he would work with China to get the company back to business soon.
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Birla Carbon, part of Indian conglomerate Aditya Birla Group, is targeting its relationship banks for the senior syndication of a $1.2bn borrowing.
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Silver Lake Management, the US private equity firm, has agreed to buy ZPG, the parent of UK property search website Zoopla, for £2.2bn. It has already lined up debt to fund the purchase.
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China’s Hefei Guoxuan High-Tech Power Energy has tapped the offshore loan market for the first time, unveiling a $300m loan.
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