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Banks back increase of the offer's cash component for Tim by almost a fifth as uptake lags
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
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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. -
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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