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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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Holders of Inmarsat’s 6.5% 2024 high yield notes are recommended to take profits, as the board of the UK-listed satellite company recommended an LBO offer from a consortium of investors. Barclays, Bank of America, and UBS are arranging a $3.625bn term loan and a $600m-equivalent multicurrency revolver to fund the deal. -
Raiffeisen Bank International has launched a digital platform for Schuldschein and loan transactions, called Yellowe.
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Strabag has signed bank facilities totalling €2.4bn, the Austrian construction and technology firm becoming the latest borrower to refinance early amid cheap funding conditions.
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Deutsche Börse has run an amend and extend operation on a €750m loan to add a sustainable element to its debt, as some lenders continue to rail against the proliferation of what they see as refinancing in all but fees.
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Bankers remain confident that Turkey's 'resilient' banking system will weather increasing political and economic volatility, as the country enters a recession and approaches local elections.
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Mersen, a French technology manufacturer, will not accept bids from UK-based lenders for its new Schuldschein “in anticipation of a potential Brexit”. Three bankers away from the transaction said they have also discussed excluding UK lenders with other borrowers.
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