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The Prague-based defence and technology firm attracted 18 institutions into a deal which compressed margins by 150bp
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
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Jefferies has enjoyed a record year in European investment banking, powered by equity capital markets, writes David Rothnie. -
Adidas, the German sportswear company, has signed a €1.5bn loan to replace an emergency facility from KfW signed during the worst of the coronavirus pandemic. It has raised €3bn of debt since taking the crisis loan.
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İşbank, Turkey's largest private bank by assets, has raised a dual tranche syndicated loan, with margins that were priced "fairly" considering the country's credit risk and general market conditions, according to bankers.
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Adidas took an unusual route this week by using a mixture of loans and bonds to refinance a coronavirus crisis facility, but lenders and bond syndicate bankers say that eschewing the capital markets makes good sense to a certain type of company.
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A handful of borrowers have been forced to close smaller loans than expected recently amid waning interest from lenders. While bankers insist there is still plenty of liquidity, debut credits and infrequent borrowers are feeling the pinch in the pandemic. Pan Yue reports.
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UK pub chain and brewer Marston’s asked some of its noteholders for fresh covenant waivers on Wednesday, as a measure to help mitigate the impact of a second lockdown.
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