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Even leveraged deals still being underwritten, though banks are selective
Head of capital markets and advisory leaves
GlobalCapital is pleased to announce the winners of the Syndicated Loan, Leveraged Finance and Private Debt Awards 2025.
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Aircraft lessors have become popular borrowers in the US private placement market but coronavirus pandemic has thrown up a whole new magnitude of risk for the industry and many will be looking to amend the terms of their deals. Many market participants predict that the conversations between borrowers and investors will be tricky. -
Russian commodity and metals companies are rethinking financing plans and talking to bankers about loans amid the drastic change in outlook due to Covid-19 and the oil price war. But bankers say borrowers insistent on pre-coronavirus terms on their deals must lower their expectations.
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Spain’s El Corte Inglés has signed a €1.311bn short-term revolving credit facility, with the department store returning to the loan market twice in quick succession to make sure it has the cash to ride out the next year.
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Glencore, the Swiss-headquartered commodity trading and mining group, has agreed $14.625bn of loans, becoming one of the last in Europe to lock in pre-crisis terms.
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Reliance Industries is seeking commitments from banks for a ¥38bn ($351m) Samurai loan in senior syndication. The Indian company’s deal is part of a two-tranche dollar and yen-denominated transaction worth about $1.45bn.
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Royal Dutch Shell has signed a $12bn credit line, three months after securing a similarly sized deal, as the Anglo-Dutch oil major builds up its cash pile in the face of plunging oil demand and prices.
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