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◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Despite the allure of lower loan prices, CLO managers should print deals cautiously
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Lonza, the Swiss medical firm, is sounding the market for a $100m seven year loan, following a €870m-equivalent Schuldschein transaction in August.
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Amprion, the German electricity transmission firm, is looking to raise €100m with the Schuldschein product as well as the Namensschuldverschreibung (NSV) — a similar instrument that is registered and can have a maturity longer than 10 years.
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Several Chinese borrowers have hit the loan market for two year money in recent months, in contrast to more established firms from the mainland which are pushing out tenors on their borrowings. While typically banks and borrowers prefer to lock in longer-term loans, for some the nature of the business and the lenders’ unfamiliarity with the company necessitates a shorter life to mitigate risks.
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ANZ has promoted Chris Raciti, a senior loans banker who looked after North Asia, to CEO of its Korean arm, the bank said in a press release on Wednesday.
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Hungarian oil and gas company MOL has launched a €600m syndicated loan, for which banks are expected to send in commitments over the next two weeks.
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Saudi Electricity Co’s $1.75bn loan has been successfully sold down to four other banks.
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