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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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Muddy Waters has fostered a fearsome reputation as a credible, thorough and forceful short seller whose explosive reports are a danger to anyone harbouring a stake in its intended target. Carson Block, its founder and chief investment officer, told GlobalCapital he has never been wrong about a company he’s shorted, though that doesn’t mean he’s made money from every position he has held. According to Block, monetary policies intended to stimulate markets through financial crises actually corrode them, and stifle accountability for serious failures in corporate governance.
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Taiwan’s Chailease International Finance Corp is returning to the loan market through its Singapore entity for a $100m deal.
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India’s Mu Sigma, a data analytics firm, has returned to the loan market for an up to $100m deal to refinance its debt.
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Chinese travel agency Trip.com Group has closed the senior syndication phase of a $1bn multi-tranche loan.
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UK food and ingredients company Tate & Lyle has sold a $200m US private placement, according to two sources familiar with the situation. Several agents have said that requests for proposals are now rolling in after a quieter few months.
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The German government has waved through a €9bn bailout package for flag carrier Lufthansa, paving the way for the state bailout fund to own up to 25% of the company.
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