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Syndicated Loans

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  • Agriculture company Olam International has closed its $1.525bn club deal with 19 lenders.
  • Costa Rica is planning to tap international investors for the first time, seeking $4.5bn. But investors are worried about its economy, especially its fiscal deficit. The central bank governor tells GlobalMarkets the state is on track for a primary surplus in four years, but investors see risks.
  • The next economic downturn will be much more severe than the last financial crisis because firms have twice as much outstanding debt as they did in 2008, said a leading academic this week.
  • Nomura’s Cicchine heads for Deutsche — Macquarie finds head for new lending group — Citi promotes ECM bankers.
  • A surprise agreement between the UK government and the European Union has led to renewed optimism for the country's capital markets. There is hope that an orderly Brexit, or even a long extension, will lead to an increase in investment from UK companies, particularly in the form of M&A. Investors are more than willing to finance these deals, write Sam Kerr, Jasper Cox and Mike Turner.
  • Mann+Hummel struggles in Schuldschein market amid splurge in auto trades — Bureau Veritas returns to USPP market — Seplat turns to loans for Eland buy — Endava swaps to syndicated sterling borrowing — Bravida refis revolver, eyes more buys