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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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Taiwan’s Chailease International Finance Corp has launched its fifth loan of the year to the market. It is eyeing up to $100m through its Thailand subsidiary. -
Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.
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Formosa Plastics Corp is preparing to set a new pricing benchmark with its planned $2bn loan, which bankers reckon could set a record low for a borrower from Taiwan. If the company succeeds, this could set a dangerous precedent for the long-term health of Asia’s loan syndication market.
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Goldman Sachs has named new global M&A bosses, with the incumbents moving to become chairs of the business.
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German hospital operator Asklepios Kliniken launched a Schuldschein on Monday with an initial target of €200m. Investors have doubled down on their interest in pharmaceutical firms this year and throughout the pandemic, prompting a substantial increase in the market’s exposure to the sector.
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Ericsson, the Swedish telecoms infrastructure manufacturer, has agreed to buy US connectivity company Cradlepoint for $1.1bn using cash on hand, as corporate bankers say cash-rich companies are less inclined to visit debt markets to fund acquisitions after months of frantic debt raising.
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