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Swiss commodities firm has deleveraged thanks to elevated free cash flow
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
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The volatility and widening of corporate bond spreads in Europe since February has led many bankers to comment that the balance of power has shifted from issuers to investors. Investors, however, suggest otherwise.
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The European Bank for Reconstruction and Development is in the midst of its first annual meeting in the Middle East, and its president has again floated the idea of another big expansion of the bank’s remit to include sub-Saharan Africa. -
The riskiest end of the US leveraged loan market has outperformed the wider loan market in the year to date, although investors are starting to push back on pricing in some instances.
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House of Fraser, the department store chain, has joined the trail of UK high yield retailers that have turned to company voluntary arrangements (CVAs) to deal with financial difficulties. But this time, the borrower has also found a new owner, a development its 11% shareholder Sports Direct is threatening to block in court.
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The board of Shire, the pharmaceuticals company, has given the thumbs-up to a £46bn takeover offer by Japanese rival Takeda, with $30.85bn of loans already lined up for the purchase.
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Turkey’s Vakıf Katılım Bankası has signed its debut syndicated loan, increasing the Sharia-compliant murabaha facility after lenders piled into it.
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