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Former investment banker has been CFO of Verbund
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Cairn India Holdings, which signed up new lenders for a $651m borrowing in late July, has received commitments from two more banks. -
A growing number of European high yield borrowers are replacing their bonds with leveraged loan debt. This week, investment management company Neuberger Berman decided to add leveraged loans into its bond strategy, and said more investors should follow suit to avoid missing new speculative grade issuance.
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Russian potash company Uralkali signed a $850m pre-export finance facility with 11 banks on Wednesday, showing that investor appetite for the country remains strong despite the US enforcing more sanctions.
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Indian company Intas Pharmaceuticals is lining up banks to help it fund an acquisition in Europe and the US, turning back to lenders who helped the company pull off a successful takeover earlier this year. But this time around, it has more bargaining power. Shruti Chaturvedi reports.
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The number of highly leveraged retailers including clauses in loans that allow them to strip out valuable collateral into separate subsidiaries, out of reach of secured lenders, has reached “extreme” levels, according to loan market sources.
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Saudi Electricity Co (SEC), the largest utility company in the Middle East and North Africa, signed its largest international syndicated loan of $1.75bn on Wednesday with eight banks.
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