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Platform to have two strategies — high yield and investment grade
Tranches in dollars and yen attract 12 banks
Leverage from Warner Bros purchase could make return to investment grade a mission impossible
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Cigarette packaging producer Amvig Holdings has made a rapid comeback to the loan market for a HK$1.35bn ($174m) borrowing. -
Apollo Global Management announced on Monday a new private credit unit aiming to provide $1bn direct loans to larger firms, in the first instance of a direct lending fund with its eyes only fixed on big business.
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Investors in UK universities are struggling to work out just how risky the sector is, as its lucrative international student intake as well as pension liabilities are still unclear. A report published by the Institute for Fiscal Studies (IFS) on Monday estimated that 13 universities may go bust if they do not either carry out debt restructurings or receive government bailouts.
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Swedish alarm firm Verisure is preparing a €1bn refinancing, underlining the move in the leveraged credit market from the tough days of March and April to firmer territory where sponsors can optimise capital structures, not just hang on for liquidity at any price.
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Oman, one of only two junk-rated sovereigns in the Gulf region, is tapping lenders for up to $2bn, as some say it could not find the right conditions in the bond market. According to bankers familiar with the deal, credit risk considerations are foremost and the sovereign will have to pay up to borrow.
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VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has launched a $200m new money loan.
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