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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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Credit Bank of Moscow (CBM) has refinanced a $400m loan, raising $500m. While the deal was oversubscribed, bankers still have little hope of a sustained increase in Russian syndicated lending, which some have called a barren market.
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Asia’s syndicated loan market, which slowed in the first quarter, thanks to the US-China trade war, looming elections in south and southeast Asia and a bump in the offshore bond market, is set for an even worse three months ahead, participants believe. Bankers are now pinning their hopes on a strong second half. Pan Yue reports.
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Spain’s Acciona has signed a €675m environmental, social and governance-linked loan. Lenders piled into the infrastructure and renewable energy group's deal after launch, enabling the size to grow by 35%.
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Mauritius Commercial Bank has raised a new dual tranche $800m loan after receiving commitments of over $1bn. The deal was welcomed by bankers as one of the few new money financings in the market.
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Axilone, the beauty product packaging firm, has launched an add-on to its first lien term loan. The money will be used to refinance the second lien debt it took out in January 2018, to part-fund its buyout by Citic Capital.
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Barclays’ head of private loan sales has quit the bank. GlobalCapital can also reveal that Peter Jurdjevic, the bank’s head of global finance solutions, who we reported is leaving the bank earlier on Wednesday, is joining the Qatar Investment Authority as head of FIG.
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