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Company’s new facility was described as ‘substantially oversubscribed’ and structured as a club deal as it adds contingent liquidity loan for $3bn
Hire comes from Ares
Company last issued Schuldscheine in 2019
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Official financial lifelines to keep UK companies alive through the coronavirus pandemic are already having a tangible effect. Shares in Redrow, the UK housebuilder, rose 7.5% on Thursday morning after it announced it had been approved to borrow up to £300m from the Bank of England’s commercial paper facility for investment grade companies. -
The International Private Equity and Venture Capital Valuation Guidelines (Ipev) body has warned funds to take special care over quarter-end reporting and valuation of portfolios, so that marks for sponsor-owned companies reflect as well as they can the devastation of the coronavrius pandemic, rather than the benign conditions prevailing at the start of the year.
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The European Bank of Reconstruction and Development told GlobalCapital that alongside providing €1bn of emergency short-term funding, it is also considering debt repayment extensions for existing clients amid the coronavirus crisis.
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Fashion retailer H&M has signed a €980m revolving credit facility to sit alongside its existing main bank line, as the Swedish company becomes the latest to turn to the bank market to bolster its finances during the coronavirus pandemic.
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Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has brought in 21 banks for its debut borrowing in the loan market.
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Centerview Partners has appointed ex-Lazard rainmaker Matthieu Pigasse as head of its new French operation, as the boutique advisory firm expands in continental Europe with a 15-strong team.
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