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Deal refinances €1.5bn transaction from 2022 while providing new money and is sustainability-linked
Volumes and deals similar to last year, when the market grew by 13% year-on-year to an annual record
The German toy production company doubled the size of its RCF but maintained its banking consortium
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Commerzbank is expanding its investment banking business as it doubles down in its domestic heartland, writes David Rothnie.
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Siberian Coal Energy Co (Suek) is set to finally close a loan refinancing next week after a lengthy syndication process that bankers close to the deal blame on a growing number of lenders declining to finance coal-burning activities.
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Louis Dreyfus Co, the Dutch-based agricultural commodities trader, has renewed its $750m North American bank credit line, and become the latest company to add a sustainability-linked element to its revolving credit facility.
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Isabel Martin Vazquez, a former supranational, sovereign and agency and emerging markets debt capital markets banker at Barclays, has joined Spanish advisory firm Didendum as a partner, to lead an expansion of its business from London.
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The focus of leveraged finance has shifted from outbound Chinese acquisitions to intra-Asia deals this year, according to speakers at the Asia Pacific Loan Market Association’s annual conference in Singapore this week. Although many bankers are seeing opportunities in India and Indonesia, they say that with less overall supply, companies are pushing for lower pricing and looser covenants.
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US investment research firm Morningstar has agreed to buy credit ratings agency DBRS for $669m, in a move that will expand its business in this area beyond the US. The deal will be partially backed by a new bank credit facility.
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