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Europe gets first large, general corporate revolving credit facility labelled green
Team led by Jenny Edwards hires more than 20 professionals for its April launch
Commerzbank arranges $1.1bn deal for supply of vital raw materials
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The UK’s monetary policy will officially be designed to fight climate change from now on, after chancellor of the exchequer Rishi Sunak changed the Bank of England’s mandate this week, delighting sustainable finance campaigners. -
Lawyers for struggling supply chain finance firm Greensill argued in court that over 50,000 jobs could be at risk from its collapse, precipitated by the withdrawal of credit insurance. But experts in the sector with knowledge of Greensill’s exposures argue that even Sanjeev Gupta’s Liberty Alliance empire could come out ahead.
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LondonMetric, the UK real estate investment trust, is marketing a private placement deal, according to market sources.
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EG Group leant on private markets to raise cash for its purchase of the forecourts business of UK supermarket Asda and a chain of German petrol stations from OMV. The group is raising first and second lien loans, and, on February 26, privately placed a £675m Reg S-only bond.
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International Public Partnerships, a UK listed infrastructure investment company, has refinanced a £400m loan to extend the maturity and switch the margin from the Libor benchmark, as lenders hope that other borrowers do the same rather than cram into the second half of the year.
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Taiwanese semiconductor distribution company WT Microelectronics is plotting a return to the loan market after an absence of almost eight years. Bankers say more companies from the sector are likely to turn to loans in 2021 as strong growth in the industry propels opportunistic fundraising. Pan Yue reports.
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