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German promissory notes come into their own in times of stress
Company ups loan from €135m and adds sustainability linkage
Conflict marks inflection point for investment banks as syndicated loan exposure and crushed bond fees come under scrutiny
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High yield and leveraged loan spreads have widened in the last few days, as news of the coronavirus outbreak has worsened. But neither that, nor new figures from Moody's showing downgrades outnumbering upgrades, is putting off investors long used to hanging on through gritty conditions. Chemical producer Inovyn managed to complete a €1.064bn loan amend-and-extend on Tuesday. -
Adani Group, the Indian conglomerate founded by Gautam Adani, is considering a non-deal roadshow to Schuldschein investors, as Western private debt markets gain ground with companies in Asia.
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Ascential, the UK media and events company, scaled back lenders after its £450m-equivalent bank line refinancing was oversubscribed.
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Russian nickel and palladium producer Norilsk Nickel has refinanced an existing facility and in the process has increased the size of the deal and shaved the margins. According to bank lenders, the deal is one of many expected to enter the market by Russian borrowers seeking to obtain more attractive terms amid a drought in activity.
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Standard Chartered’s global head of leveraged finance and structured solutions has left the bank, according to a source close to the situation.
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Singapore’s Park Hotel Group has sealed its maiden green loan, raising S$237m ($169m) from United Overseas Bank.
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