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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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Asian loans bankers are calling for relaxed restrictions on green and sustainability-linked loans, hoping for more business opportunities from the sector. But this approach could harm the development of the market in the long-term. -
The threat to biodiversity is moving up the agenda of financial markets, but banks are woefully unprepared, a new study has found — in fact, they are actively financing what scientists believe is a mass extinction of species.
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UK hospitality companies have been avid users of the US private placement market in the past, but since the coronavirus pandemic began, their businesses have been up-ended, with pubs subject to curfews, social distancing and closures. Fortunately, US PP investors have largely followed bank lenders in opting for leniency, waiving covenants or switching to monitoring minimum levels of liquidity. One firm even managed to raise new debt this summer.
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Loan syndicate desk heads at major European lenders are expecting to make budget this year, but the bulk of their desks’ profits will not be coming from the usual sources of loan income nor the torrent of bridge loans that hit the market in the Spring outbreak of the coronavirus pandemic.
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The coronavirus pandemic has subjected the European leveraged loan market, where ‘cov-lite’ documents reign supreme, to a brutal test. The early results are positive.
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South Africa's Standard Bank, which is 20% owned by ICBC, has raised a syndicated loan from a consortium of Chinese lenders. The transaction marks one of the few spots of activity in a market that has almost halved in size this year.
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