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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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Reliance Jio Infocomm, the mobile network operator controlled by India’s Reliance Industries, has raised ¥53.5bn ($498m), the largest Samurai loan for an Asian corporation.
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Hong Kong-listed Canvest Environmental Protection Group Company, a waste-to-energy provider, is seeking a $150m-equivalent borrowing denominated in Hong Kong dollars.
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Two pieces of news this week highlight how environmental, social and governance (ESG) investing is conquering the capital markets. But both carry a risk of intellectual laziness.
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The speculative grade loan market is leading leveraged finance issuance in Europe again, as investors pour more cash into the asset class. This week, Amundi opened its new leveraged loans Europe 2018 fund for institutional investors.
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Irish pharmaceutical company Shire has turned down a £42.4bn takeover offer from Takeda, putting pressure on the Japanese company’s ambitions for global expansion as it strives to maintain its dividend and investment grade rating.
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One of the drawbacks of the strong growth in interest in responsible investing is that many investors only want to take conventional kinds of risk — such as buying large, liquid equities or investment grade bonds. But a report out this week suggests even small, obscure impact investments have a safe risk profile — perhaps even better than mainstream investments.
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