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Centralisation, competitiveness and cyber-risk will be political flashpoints
Société Générale and Standard Chartered provided euro and yen tranches respectively in first World Bank-backed transaction involving the Japanese currency
HSBC, Mizuho and Standard Chartered coordinated deal which drew 10 lenders
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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. -
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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Before a dam bursts, there are telltale signs. A few drops of water might eke their way through, some ominous creaking could sound, or the once-sturdy walls might look like they’re starting to buckle. Similar indicators are showing in parts of the emerging markets loan market, with more borrowers asking for terms that until now were only seen on investment grade, developed market deals.
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US firm International Flavors & Fragrances (IFF) has agreed to buy rival Frutarom in a debt-backed $7.1bn transaction, in what will be the second largest ever acquisition of an Israeli company.
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Indomobil Finance Indonesia has returned to the offshore loan market for a new $100m borrowing, according to a banker invited to participate in the deal.
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