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AfDB hopes to launch multi-issuer securitization this year
◆ French firm takes €700m with unrated deal ◆ Double digit concession needed ◆ Deal prices inside debut, but returns higher yield
Deal liberates capital and tempts investors to take new frontier market risk
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Do responsible investing, ESG and sustainable finance mean anything? If so, they must mean investors cannot buy Saudi Aramco’s IPO. When the world is desperately trying to cut carbon emissions, ploughing billions into a newly listed oil company is the definition of a backward step. -
Large Schuldscheine are being lined up for the first quarter of next year, arrangers said, with investors reaching their lending limits for the year. But there are still deals numbering in the double digits to be done by Christmas.
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The UK’s International Consolidated Airlines Group (IAG) has agreed to a debt-backed deal to buy Spain’s Air Europa for €1bn, in an acquisition that has already prompted the boss of competitor Ryanair to say he will call on authorities to scrutinise the deal closely.
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The bidding war for UK food delivery service Just Eat took a fresh turn on Monday, with initial suitor Takeaway.com lowering the threshold for approval as it looks to fight off rival bidders.
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Globalworth, a Romania-headquartered real estate investment company, has secured a €200m revolving credit facility from a consortium of local and international lenders.
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Moody’s has downgraded South Africa’s outlook from stable to negative, in what some think is the precursor to the country being classified as a junk borrower. Lenders — in characteristic fashion — have shrugged off the implications for the country’s borrowers, claiming they enjoy a strong national banking system.
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