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Deal multiple times oversubscribed as investors buy into electrification and AI story
Deal comes after bank built M&A matchmaking system using AI and invested in BlockInvest
Deutsche enters banking syndicate, ING and Commerz sit out of fresh transaction
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Parkdean Resorts accelerated commitments on its £575m ($722m) buyout seven year term loan ‘B’ this week alongside several issuers who came to reprice sterling deals, as more cash pours into non-CLO investment accounts.
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BC Partners, the private equity firm, has hired a new managing partner from outside the company.
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A euro deal is imminent for India’s Motherson Sumi Systems (MSSL) as it completes its acquisition of Finland’s PKC Group.
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A $1.75bn borrowing for Indian conglomerate Reliance Industries has been opened into general syndication with a 19-strong banking group at the top.
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Brenntag, the German chemicals distribution company, extended and improved its syndicated loan financing on Tuesday. Its intention was to lengthen maturity profile, but strong conditions and improving credit documentation allowed the borrower to cut interest margins as well.
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Akbank has made a bullish return to the international syndicated loan market, going beyond its usual one year tenor refinancing, despite the difficulties Turkish borrowers have had recently in obtaining longer dated loans. But the deal confirms that pricing levels have changed markedly in the past six months, said bankers.
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