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◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
After quitting M&A and equity capital markets in Europe and the US last year, HSBC is striving to maintain global relevance — and London and New York still have a role to play
Despite the allure of lower loan prices, CLO managers should print deals cautiously
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The synthetic risk transfer market helped some of Europe’s biggest banks dodge loan losses last year, with Barclays saving more than £300m and Deutsche at least €150m. But the backdrop last year led to investors taking a tougher line on writing new credit protection, steering clear of pools with limited disclosure and hoping to dodge the most damaged sectors. -
McColl’s, the UK retailer, has amended and extended £167.5m of bank debt in part to relax covenant requirements, as banks are still being called upon to be lenient with borrowers a year after the coronavirus pandemic started.
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Intermediate Capital Group Enterprise Trust, a UK private equity investor, has signed a €200m loan facility, a month after the company’s parent refinanced its sterling facility.
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Singapore real estate company United Industrial Corp has raised a $300m loan comprising both green and sustainability-linked tranches, adding further momentum to the nascent asset class in Asia.
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Glenveagh Properties, the Irish house builder, has signed a €250m bank line to refinance debt due in April, adding to its lending group in the process.
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Soltec, a Spanish solar tracker company, has refinanced its main syndicated bank loan, almost doubling the size of its bank facilities four months after the company publicly listed.
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