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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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Hong Kong-listed pharmaceuticals company United Laboratories International Holdings is tapping the loan market for a HK$1bn ($128m) deal, almost six years after cancelling a smaller facility. -
Zhenro Properties Group has wrapped up its debut offshore borrowing at $120m-equivalent with commitments from five lenders.
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Rabobank has appointed Ian Baggott from the Loan Market Association to lead its Asia capital markets team, effective in August.
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Refinitiv’s 2018 high yield bond was slammed for having the weakest ever investor protections. Now another Blackstone consortium is about to use that deal as a template in the £5.9bn public-to-private buyout of theme park giant Merlin. The financing package also features protection against short-selling debt activists — an activity associated with Blackstone unit GSO Capital. Karoliina Liimatainen reports.
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The largest second lien tranche since the financial crisis, a Sfr1.3bn-equivalent deal, was placed to just five accounts, GlobalCapital understands, supporting EQT, Luxina and PSP’s $10bn buyout of Nestlé Skin Health. The big second lien tickets illustrate the depth of demand for the product, which has been buoyed by the cash raised for direct lending opportunities — and supports the deal through senior syndication.
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The UK government launched its Green Finance Strategy this week, including a broad range of measures to stimulate awareness of climate change and other environmental problems in financial markets, and ease the flow of capital to green projects. But observers criticised the government for not setting out a plan on how to finance the transition to a zero emissions economy.
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