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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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A hail of high yield and leveraged loan deals hit the European market this week, making it seem like investors and bankers were unaware of the angst permeating equity markets since President Donald Trump decided to up the ante in his trade poker game with China. Not every deal was a blowout, however — United Group priced its PIK note wide of guidance and Virgin Media failed to tighten.
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Growth is expected to slow across central and eastern Europe this year, but the region has a trick up its sleeve: a well developed local banking system that in the 30 years since the fall of the Iron Curtain has evolved into a self-sufficient source of financing for the region.
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Société Générale will take an increasingly selective approach to which of its clients are allowed the full range of its product suite, as it targets big savings in its global banking and investor solutions (GBIS) division.
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Schlesinger leaves Santander – New responsibilities for Ross – Soc Gen shuffles markets top brass
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Opinion polls indicate that South Africa’s incumbent African National Congress party and president, Cyril Ramaphosa, will win the country’s hotly contested general election, held on Wednesday, with a reduced majority. Bankers expect financing business to return to normal soon, after pausing in the run-up to the election.
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K+S, the potash and salt producer, has refinanced its revolving credit facility a year early, to lock in favourable borrowing terms at it seeks to move back to positive free cashflow for the first time for more than five years.
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