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Leveraged loans in stressed sectors like software carry refinancing risk
Ferrero International markets €300m deal
Six tranche loan attracts record demand
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Investors in European leveraged debt seem to be giving up for the year. Funds and financial vehicles that buy high yield bonds and leveraged loans have seen large volumes of cash outflows, leaving borrowers with no other option but to step back this week. -
State Bank of India’s $500m loan is now in limited syndication after the senior lenders were mandated in October.
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Senior credit analysts at Moody’s are warning that the private equity-led proliferation of weak creditor protections in the leveraged loan market may mean a more protracted and challenging default cycle in coming years.
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The European Union has taken a step towards using the bank capital risk weighting system to favour green assets and discourage ‘brown’ unsustainable lending — one of the most controversial issues on the sustainable finance policy agenda.
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Utility Thames Water has a signed a £1.4bn sustainability-linked revolving credit facility that its coordinators say is the first to be linked to an asset-specific Infrastructure GRESB rating.
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Loan bankers and market analysts are weighing up the implications of Qatar's shock announcement on Monday that it would leave the Organisation of Petroleum Exporting Countries in January after 57 years of membership, writes Mariam Meskin.
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