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Having to rate money-guzzling Anthropic and OpenAI will test the agencies’ nerve
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
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The travails of Steinhoff International, the embattled South African retail holding company, deepened today as Christo Wiese, the entrepreneur who has built up the business, resigned as chairman. -
All-time low funding costs have sparked record gross issuance of leveraged finance debt in Europe this year, including a stream of multi-billion sized deals. More are coming, market participants say, and leveraged loan demand will be key for them.
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Qatar National Bank has received interest from its relationship banks as well as new lenders from outside the Middle East for a loan refinancing, showing international lenders are no longer afraid of publicly showing their support for Qatari entities six months after its Gulf Cooperation Council neighbours severed ties with the nation.
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South Africa’s FirstRand Bank signed a syndicated loan with 21 banks on Thursday for $700m, $200m higher than its launch amount, despite South Africa’s recent rating downgrade, which also led to a downgrade for FirstRand.
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Bunge Finance Europe, an arm of the US agricultural commodities group, signed a $1.75bn revolving credit facility with 42 banks on Tuesday.
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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.
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