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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 UAE’s largest private healthcare company, NMC Healthcare, has signed a $2bn loan with a club of international banks, continuing a growing trend of Middle Eastern private companies entering the syndicated loan market. -
Akbank has signed a $1.2bn loan to refinance a loan from last year and achieved tighter pricing than on the previous facility.
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The UK government has waded into Melrose’s hostile bid for engineering firm GKN, seeking assurances from the industrial conglomerate that it plans to protect UK jobs should the deal go ahead, in the latest hurdle for the £7bn-plus debt-financed acquisition.
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JD Sports, the UK athletic wear company, has agreed a new revolving credit facility underwritten by existing relationship banks Barclays and HSBC, to finance its $558m acquisition of the US’s Finish Line.
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Michelin, the French tyre maker, has got a £1.2bn bridge loan underwritten and arranged by Morgan Stanley to finance its purchase of UK industrial belting manufacturer Fenner.
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Saudi Arabia has had to scale back banks grappling to get on its $16bn loan, which will be used to refinance a $10bn loan taken out in 2016.
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