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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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Kingspan, an Irish insulation company, has made a €700m offer for two units of Belgium’s Recticel, but will sell one of them if the deal goes ahead. -
More banks have joined the acquisition loan for the Triton consortium’s buy-out of UK-based satellite tech provider Inmarsat, ahead of Tuesday’s deadline to make a firm offer for the company.
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Metalloinvest, the Russian steel maker, has signed a sustainability-linked bilateral credit line with ING. It is one of the first sustainability-linked loans for a Russian borrower and comes as ING continues its drive to expand in this area.
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CWT International, a Hong Kong-listed subsidiary of cash-strapped HNA Group, has defaulted on a HK$1.4bn ($179m) loan.
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Enel and NextEra Energy have, on a pilot basis, become the first companies to obtain one of S&P Global’s new ESG Evaluations. The product, launched last week, takes S&P into direct competition with providers of ESG ratings like MSCI and Sustainalytics — and with Moody’s, which a few days after S&P’s launch acquired Vigeo Eiris, the French-based ESG rating firm.
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Moody’s has acquired a majority stake in Vigeo Eiris, the environmental, social and governance research and ratings provider, as the credit rating agencies move increasingly into the area of ESG investing. The announcement comes just days after S&P Global launched its new ESG Evaluation product.
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