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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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Investec Bank has benefited from South Africa’s political turn for the better, with pricing tightened on a $300m loan refinancing and Asian banks flocking to another loan for its UK branch. -
The widening gap between Libor and Hibor, which reached the highest level in 10 years on Wednesday, is pushing Hong Kong and Chinese borrowers to the Hong Kong dollar-denominated loans market. But while the possibilities for opportunistic deals are plenty, bankers warn the window won’t be open for too long. Pan Yue reports.
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Details have emerged on £1.5bn of underwritten loans for the UK’s Phoenix Group, as the life assurance fund consolidator moves closer to its £3.24bn cash and shares purchase of Standard Life Aberdeen’s insurance arm.
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The Loan Market Association (LMA) has launched standardised guidelines for green loans, a move that bankers say is a significant step forward in expanding the nascent market.
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Hong Kong-listed New World Development has converted a loan signed in March 2016 into a green loan, a first of its kind for the company and in line with its plan to promote sustainability across its business.
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US health insurer Cigna has agreed a $26.7bn bridge loan from two banks as part of its deal to buy Express Scripts, in a transaction lenders say highlights how deep liquidity is in the market.
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