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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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HSBC’s first synthetic CLO since the financial crisis had a double helping of shaky UK support services firms, with exposures to Interserve, as well as Carillion. Investors in the deal have therefore been hit by two credit events from the sector, following Interserve’s administration two weeks ago. -
Indonesia Eximbank is sending out a covenant waiver request for a $1.15bn loan it sealed last year, as the policy bank's non-performing loan (NPL) ratio rose higher than the covenant allows.
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VC Trade, the leading digital challenger in the Schuldschein market, has begun cooperating with Scope Ratings, which will now offer optional credit opinions for any borrower using the platform. This will add efficiency and transparency to the market, proponents claim.
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LeasePlan has launched a €1.3bn high yield bond from its Lincoln Financing holding company to pay back the original €1.6bn-equivalent holdco acquisition debt from its 2016 purchase by a consortium led by TDR Capital, and including Abu Dhabi Investment Authority, GIC and PGGM.
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Rothschild & Co has appointed Martin Kingston as executive chairman of its board in South Africa, among other personnel moves in the country.
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Citi has appointed Elissar Farah Antonios as cluster head for the United Arab Emirates, the Levant and Iraq.
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