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Margins widen as lenders weigh up AI disruption to portfolio companies
Market still open to strategic mergers, but deal execution more selective
Borrower's sustainability credentials made a green lending a better fit, says ING
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Groupe PSA, the French car maker, has sold more than €500m of Schuldscheine, as a flurry of French firms find fortune in the market. -
Anadarko Petroleum has opened talks with potential suitor Occidental Petroleum, leaving bankers gobsmacked and potentially costing the US shale oil company $1bn if it cancels its acquisition by Chevron.
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Fashion company PVH has refinanced its debt with a $2.6bn-equivalent loan package, with the Calvin Klein and Tommy Hilfiger owner signing bank lines in a variety of currencies.
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Sirius Minerals has launched a bold $3.8bn financing transaction, combining equity, debt and a new loan facility, to fund the development of its Yorkshire potash mine project. JP Morgan, Sirius's corporate broker, is underwriting and organising the deal.
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The arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that though the oversubscribed order books closed on Monday, they have extended the timetable for settlement to allow some investors “additional time to firm up their orders”.
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Tottenham Hotspur, the north London football club, is considering selling US private placements to partly pay off bank loans generated by the construction of its new stadium, several market participants have said. Unlike their US equivalents in the NBA and NFL, professional clubs from the UK are a rarity in the market, as the threat of relegation makes them too perilous an investment to some investors. Silas Brown reports.
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