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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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Arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that demand “considerably exceeds the initial volume” target of €150m. The success of the transaction came as a surprise to some of the arrangers’ competitors, but is considered a good sign for the market.
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Société Générale is looking at cutting around 1,600 jobs across the group, while also closing its over-the-counter (OTC) commodities business and proprietary trading firm.
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High grade loans bankers claim to be in more hopeful talks with clients after a “devastating” start to the year, but unease lingers around the market.
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Spain’s Abertis Infraestructuras has shifted the obligations of around €9.97bn of loans to itself from its holding company, with the toll roads group immediately paying down a sizeable portion of the debt.
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Hong Kong’s Citychamp Watch & Jewellery Group has launched a debut offshore borrowing with a $150m three year facility.
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Emirates NBD (ENBD) has renegotiated the price it is paying to buy Turkish lender Denizbank from Sberbank after the fall of the lira since the deal was first announced last year. Some bankers have wondered how the acquisition will be financed, but ENBD has told GlobalCapital the bank will not raise debt to fund the deal.
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