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Former investment banker has been CFO of Verbund
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Fahy will also lead asset-based finance origination -
Direct lending default rates tick higher amid notable distressed situations
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Financing consists of three tranches of loan facilities
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Hire comes from law firm, Mayer Brown, where he was also a partner
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A Swiss borrower and Austria's Egger are in the market
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Banks accept some deals will bypass them — others they can intermediate
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