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Poste will not borrow for the cash component
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
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The UK’s NCC Group has renewed its £100m revolving credit facility to stretch out the maturity, as loans bankers say the pipeline is looking bleak at the halfway point of the year.
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Michael Collinson has joined Houlihan Lokey as a managing director to lead its consumer products efforts in Europe. He comes from William Blair.
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Emirates National Oil Company (ENOC) has raised a $690m loan from an exclusively Chinese syndicate, a rare event rare for the region.
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Inalfa Roof Systems Group, a Netherlands-based car roof system supplier owned by Beijing Hainachuan Automotive Parts, is tapping Asian liquidity for a €200m loan.
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Umicore, a Belgian materials technology and recycling group, has sold US private placements via MUFG, according to sources. Continental European borrowers appear to be ramping up activity in the US private placement market once more, with Umicore following Brussels Airport and Ipsen.
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Sasol, an integrated chemical and energy company, last week announced a five year $1.8bn loan with a range of leading international lenders. The loan is the first corporate one in South Africa since its hotly contested elections in May. Loan bankers expect to see an improvement in borrowing conditions as a number of banks tap the market before year end.
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