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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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Far East Horizon, a Hong Kong-listed financial services firm, has returned to the offshore loan market. It is aiming to raise $1.4bn to refinance two deals maturing this year.
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Angus Whelchel, who was global head of private capital markets and a managing director at Barclays, has left the bank, according to market sources.
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Hella, the German car parts maker, has signed a €500m syndicated revolving credit facility, as lenders highlight the sector as one of the most likely to feel long-term economic damage from the coronavirus pandemic.
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Banks leading the acquisition loan for equipment finance firm Boels have increased the size of the distributed portion of the offering and cut the discount on offer, as a strong market backdrop helps clear the hung bridge backlog from before the onset of the coronavirus.
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Emerging market borrowers and lenders still lag developed markets on the transition away from the Libor, with the coronavirus pandemic hampering progress.
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Marcus John, founder and chief executive of Sports Capital Advisors, tells GlobalCapital to expect a wave of insolvencies in national sport leagues but, he believes, sports with global appeal should fare better after lockdowns ease. Whether TV rights, a key source of revenue for major leagues, will be impacted remains unclear.
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