Investment Grade

  • Lenders reckon they’ll make budget but worries remain

    Lenders reckon they’ll make budget but worries remain

    Loan syndicate desk heads at major European lenders are expecting to make budget this year, but the bulk of their desks’ profits will not be coming from the usual sources of loan income nor the torrent of bridge loans that hit the market in the Spring outbreak of the coronavirus pandemic.

  • Data shows only 18 loans swapped Libor for new rates as deadline looms

    Data shows only 18 loans swapped Libor for new rates as deadline looms

    European syndicated loan bankers say they are confident that the market is headed towards a tipping point in its transition from Libor, despite new data that showed just 18 publicly announced deals in markets that use Libor have signed or been amended to reference risk-free rates.

  • Upstart broker rocks up in Schuldschein to spur secondary trading

    Upstart broker rocks up in Schuldschein to spur secondary trading

    The secondary market in Schuldscheine is rudimentary, partly as the arranging banks have never wanted to encourage it. But a little known brokerage firm is quietly acting as a go-between, helped by its contacts with non-traditional investors, writes Silas Brown.

  • A2A breaks Italian long maturity yield record

    A2A breaks Italian long maturity yield record

    A2A, the Italian multi-utility, pre-funded for 2021 with a €500m trade on Wednesday with what the lead claims is the lowest yield for a deal of its type, as the company prepares to unleash its new business plan that will see it printing more green and sustainability-linked debt.

  • Michelin wheels in SLL as IG loan maturities diverge

    Michelin wheels in SLL as IG loan maturities diverge

    Michelin, the French tyre maker, has signed a €2.5bn sustainability-linked revolving credit facility with a three year maturity, as loans bankers say the market has become more nuanced towards maturities since the onset of Covid-19 made many of them tighten terms.

Investment grade loans news archive