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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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Yingda International Leasing, which launched a $200m syndicated loan in January, has modified the deal's terms after a change in ownership. -
Steinhoff completed syndication of $4bn of acquisition loans this week with the deal going “better than expected", according to bankers. The loan market has not shown signs of fatigue for the South African-based furniture retailer, even though the borrower has already asked a lot of the market this year.
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Investment company Melrose has completed its $1.25bn loan syndication, according to a banker on the deal. The borrower is one of very few to have launched a deal since the UK’s referendum on EU membership on June 23, but its oversubscription in syndication signalled that borrowers brave enough to try for loans will be rewarded, as banks continue to battle it out for market share. Robert Cooke reports.
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Türk Ekonomi Bankasi (TEB) and Vakifbank have adopted margin ratchets in their latest loans as a swathe of Turkish banks face ratings downgrades.
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Two Indian companies are vying for the UK and Ireland assets of Israeli firm Teva Pharmaceutical Industries and have lined up loan packages to back their bids. Although the results are still some way off, credit starved bankers are excited about the prospects of financing a sizeable acquisition out of India, writes Shruti Chaturvedi.
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Luxembourg-headquartered Armacell has launched a repricing request on its €445m term loan ‘B’, following Blackstone and Kirkbi’s acquisition of the foam insulation manufacturer from Charterhouse earlier this year.
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