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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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French telecoms company Iliad has launched a €300m Schuldschein, joining a parade of French firms raising debt through the market this year.
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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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