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A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
Bonds of energy importers have sold off, but investors convinced fundamentals are still strong
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Though many other parts of the primary bond market seem to have fired the starting gun for autumn issuance, the emerging markets are yet to join them. But there is plenty of difficulty to contend with for those invested in Latin America. -
Alteri Investors, backed by Apollo Global Management, is launching a second investment vehicle focused on the European retail sector, as it sees opportunities to invest in that troubled industry.
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Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), is close to finalising its second syndicated loan, which is scheduled for September. Margins are slimmer than on the borrower’s debut last year, according to bankers, though some in the market wondered if the fund will push even further on pricing before the deal is done.
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Louis Dreyfus Asia has boosted the size of its annual borrowing to $650m from $500m after receiving commitments from 31 lenders.
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Freeport Indonesia, a mining company that was acquired by Asahan Aluminium (Inalum) last year, is in talks with 10 banks for a $3bn term loan for its capital expenditure.
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VC Trade, one of the leading digital platforms in the Schuldschein market, has introduced an e-signature into its syndication process, which its founders claim renders the syndication process totally paperless. An impediment to paperless transactions has been market participants’ fear of regulatory and legal consequences — but VC Trade believes it has managed to navigate a way over these hurdles.
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