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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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The Schuldschein and US PP markets pride themselves on rigorous credit analysis, but both were caught flat-footed when UK outsourcing firm Carillion fell into liquidation this week. The likelihood of private debt investors getting their money back is slim, and the knock-on effects on both markets are being disputed, write Nell Mackenzie and Silas Brown. -
Risk managers are already turned on to the benefits of balance sheet CLOs — if arrangers and investors in this intensely private market are to be believed, almost every large institution in Europe has been looking at issuing these deals. But they still leave a nasty taste in some mouths.
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Institutional investors are playing a bigger role in alternative asset classes, a BlackRock survey showed on Thursday, increasing the chance of larger deals. EQT Credit’s latest investment was a case in point.
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Investec Bank plc, the South African bank’s UK branch, is expected to sign a loan to refinance a $300m facility signed in 2015.
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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, with bank meetings due to wrap up by the end of this week.
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UK engineering group GKN slapped down the claims made in a hostile takeover bid by industrial conglomerate Melrose on Thursday, leaving loans bankers facing a long wait before they find out if debt will be needed to fund the deal.
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