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Absa, FirstRand and Standard Bank were MLAs in first deal after private equity exit
Global warming is coming for portfolios everywhere. Good luck finding any escape
The transaction attracted five lenders and is the first data centre infrastructure project backed by the UK's National Wealth Fund
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French train lessor Akiem has issued €290m of green US private placements, joining the likes of LondonMetric, Montea and King's College in drawing the market further into green and sustainable finance. -
Coats, the UK industrial thread producer, has signed a $360m loan, adding environmental, social and governance metrics to its bank debt for the first time.
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China National Chemical Corp (ChemChina) is raising multiple bilateral loans worth about $3.85bn to refinance a deal maturing in early May, ditching syndication in favour of one-on-one agreements with banks. But while the cost benefits may be appealing, such an approach by borrowers is unlikely to be sustainable in the longer run. Pan Yue reports.
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Russian steelmaker Metalloinvest has secured a $350m credit line from international lenders. Metalloinvest is the second Russian corporate to tap international lenders since fresh sanctions were announced against Russia by the United States.
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UK gym chain Virgin Active’s restructuring could set a precedent for restructurings of UK retailers. Dozens of retailers have used ‘CVA’ processes to cut their debt burdens, which typically hits their landlords hard but leaves other creditors unscathed. Virgin Active is instead using the new UK ‘super scheme’ restructuring law introduced last year to try to bind landlords and other creditors alike into accepting writedowns.
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Sovcomflot, the majority state-owned Russian shipping company, defied some market participants' expectations on Tuesday by coming to market to raise dollar debt just days after a fresh wave of US sanctions on Russia.
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