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Consortium of four banks provided financing with one bank new to deal
LBO financing includes $5.75bn term loan to be priced early next week
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Sirius Minerals is in big trouble, and that means big losses ahead for the mainly retail investor base, who saw their shares dive 50% on Tuesday morning. Since the crisis, regulators have strained every nerve to keep complex, risky products out of retail hands — while retail investors have merrily piled into loss-making tech stocks and cryptocurrencies, and gambled on extractive industries. How much protection do they need?
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Germany’s Phoenix Spree has signed a €240m dual tranche term loan, with the UK-listed Berlin real estate investor drawing down the bulk of the new deal. -
Sweden’s Peab has almost doubled the size of its local currency credit facility, with the construction and civil engineering company releasing a chunk of the financing once an acquisition finalises.
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Singapore-based agriculture company Olam International has returned to the loan market for its annual refinancing.
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Gulf borrowers are being increasingly lured by the attractive terms offered in bond and sukuk markets, much to the detriment of international lenders, many of which are disgruntled by the disappointing loan volumes in the region.
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UK coach operator National Express has entered the US private placement market, according to market sources, looking for £200m-equivalent, in dollars, euros and sterling.
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