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Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
In an age of abundant information and opinion, where much of it is wrong, smart investment bankers can still be valuable to clients by embracing the complexity
At London investor day, supranational reveals deals and plans for new funding and investments, including fully African project financing
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Moody’s Investors Service said on Thursday that quality of covenants in the US leveraged loan market have dropped to their weakest ever level.
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Emerging market loans bankers are predicting African sovereign issuance will blossom this year, after Kenya led the way with a $1bn transaction last year.
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UK petrol station operator EG Group launched a jumbo leveraged loan facility on Thursday, totalling €3.5bn-equivalent, to finance its acquisition of Esso sites in Italy and Germany. Bank meetings are due to be wrapped up by the end of this week.
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Germany’s HeidelbergCement, rated Baa3/BBB-/BBB-, has signed a new €3bn-equivalent multi-currency revolving credit facility, refinancing debt early to lock in better terms.
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Investment grade loans bankers are trying to hold firm against what they claim is an attempt by borrowers to loosen deal terms aggressively, as the market prepares for a spate of merger and acquisition financing, writes Michael Turner.
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Investment grade loans bankers are licking their lips as a spate of big UK M&A transactions gathered pace this week, but jumbo acquisitions rarely go smoothly and lenders have already had to adjust expectations after GKN batted away an offer from Melrose.
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