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International Finance Corp’s drive to introduce development finance to the CLO market is advancing. Its second deal of $509m had more investors, more tranches and better pricing, supporting its rapid growth
Divisions deepen over multilateral development banks’ climate commitments
Deal rules and slow primary market make ramping up deals difficult
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China General Nuclear Power Group has opted for a green loan for its first offshore syndication in almost 30 years. Despite tight pricing, the $500m fundraising is expected to receive a warm welcome from bank lenders who are eager to lend to a state-owned company with strong credentials, writes Pan Yue.
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Electrocomponents, an industrial and electronics distributor headquartered in London, has entered the US private placement market to refinance existing notes, according to sources in the market.
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Edward Altman, creator of the Z-score metric predicting corporate bankruptcies, has co-founded a new company that automates credit scores for small and medium sized firms. That could help provide ratings for the SME CLO market.
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Germany’s Deufol has signed a new five year syndicated facility, with the packaging company managing to cut the margin on its bank debt by around 25bp.
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European loan volumes have plunged by around 46% year-on-year, ramping up the strain on loan desk budgets for the second year in a row.
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If the date of one major capital markets event in Russia is anything to go by, the locals have given up on attracting US investors all together.
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