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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 buyout loan backing Advent’s acquisition of Evonik’s methacrylates business has struggled in the first round of syndication, with leads increasing the OID and targeting the wide end of guidance. -
Turkish banks have completed the first refi season of the year and, despite ongoing geopolitical issues including concerns about Turkey's purchase of S400 missiles from Russia, spreads in the secondary loan market have stabilised at slightly wider levels.
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Taiwanese commercial banks have backed away from Chinese loans, presenting a conundrum for bankers taking deals into general syndication. But a pair of leasing companies in the country offer a glimmer of hope.
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The US’s Occidental Petroleum has completed an $8.8bn loan and is raising a $13bn bridge to back its $57bn purchase of Anadarko Petroleum, with a bevy of lenders getting in on the action.
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BlackRock and KKR will soon complete raising a $3bn loan to support a pipeline partnership project with Abu Dhabi National Oil Company (ADNOC), according to bankers familiar with the deal.
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Cinema company Vue International has relaunched the refinancing of its capital structure that was mooted last year. It wants to clear out sterling and euros high yield bonds and replace them with euro loans.
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