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Sleeping SLLs clause enters template as compressed margins make borrowers reluctant to deal with verification costs
First Abu Dhabi joins the syndicate for the short term loan all but equalling the size of a previous revolving facility
Absa, FirstRand and Standard Bank were MLAs in first deal after private equity exit
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Prada, the Italian fashion house, has made a return to the sustainability-linked loan market, becoming one of the few borrowers in Europe to sign a second deal that links the margin it pays to its sustainability performance. -
Drax, the UK power generation company, has agreed a £226m-equivalent transatlantic acquisition that will be funded in part by existing debt facilities, as M&A bankers expect a rise in acquisitions between the UK and North America in 2021.
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The Public Investment Fund, the sovereign wealth fund of Saudi Arabia, has coupled with private equity firm NBK Capital Partners, anchoring a direct lending fund.
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China Taiping Insurance Group Co has raised a HK$8.7bn ($1.12bn) loan to refinance debt taken for the acquisition of an office building in Hong Kong.
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Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.
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Hapag-Lloyd, the German container shipping firm, has signed bank facilities totalling $889m, its first foray into green financing.
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