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Despite the allure of lower loan prices, CLO managers should print deals cautiously
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Public pension schemes have sold shares in coal, oil and gas companies but are still funding expansion of the gas industry through infrastructure funds
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Adnoc Distribution, Abu Dhabi National Oil Co’s chain of petrol stations and shops, signed a $2.25bn loan with a club of banks before its initial public offering, which was completed last week. -
Leveraged loan investors are still at the table in a week many expected to be quiet. Double-B rated borrowers like Nomad Foods, the UK frozen food producer, found strong demand after slashing margins and selling add-ons.
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China New Higher Education Group has become the latest of a string of companies from the education sector to access the offshore loan market for funds. While Chinese education firms have mostly been well received by banks, market observers cautioned against drawing broad-brush conclusions. Reputable schools with scale will still be a top pick for lenders, while their lesser-known peers may find frostier conditions. Shruti Chaturvedi reports.
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Saudi Arabian Mining Co or Ma’aden, Saudi’s largest mining company, has amended a revolving credit facility that was due to mature at the end of the month.
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Stora Enso, the pulp and paper company based in Finland, has successfully refinanced a €700m loan with a €600m revolving credit facility.
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Vossloh, the German rail technology company, has signed a €150m revolving credit facility with a club of eight banks to refinance a loan signed in 2015.
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