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Sxiteen additional lenders joined the syndicate as Uniper and Amazon sign offtake PPAs
CLOs and high yield bonds offer different avenues as securitization shows limits on tenor and size
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
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Prosperity Real Estate Investment Trust opened a HK$1.95bn ($251.51m) borrowing into general syndication on Tuesday to raise fresh funds for an acquisition in Hong Kong. -
Reliance Sibur Elastomers, a subsidiary of India’s Reliance Industries, has bagged a $330m term loan with a 10 year tenor, marking one of the longest dollar loans in Asia ex-Japan in almost a decade.
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German healthcare group Fresenius has mandated three banks to provide a bridge loan for its €5.76bn acquisition of Spain’s largest private hospital group, Quirónsalud, and may add a fourth, according to a banker close to the deal.
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German real estate firm VIB Vermoegen is in the market for a €60m Schuldschein. Not only is a property borrower a rare sight in the market but the deal also raises questions about the subordination of Schuldschein debt.
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German automotive parts manufacturer Ifa Rotorion grew its Schuldschein from €100m to €140m in syndication, reaching the maximum amount the borrower was willing to take, according to one banker.
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Credit is expensive relative to fundamentals, JP Morgan announced this week, yet the actions of central bank policy will ensure that it remains so toward year end as risk premiums are increasingly compressed, and investors remain desperate for paper.
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