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GC Asia
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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.
27 Oct 2020 -
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.
26 Oct 2020 -
Greencoat Renewables takes term loan in leverage strategy shift
Greencoat Renewables, the Irish renewable infrastructure company, has signed a €200m term loan, as it looks to manage its longer duration leverage.
23 Oct 2020 -
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.
22 Oct 2020 -
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.
22 Oct 2020 -
Enel doubles down on funding linked to 60% renewable target
Enel has signed a sustainability-linked loan (SLL) days after printing a bond using the structure. The Italian energy company has doubled down on its sustainability plans by pinning both trades to the same goal.
22 Oct 2020 -
Euronav gets $713m in loans as tanker outlook turns sour
Euronav, the Belgium based crude oil tanker company, has signed a $713m loan package, as the sector outlook turns bleak after a strong start to the year because of an overproduction of oil.
22 Oct 2020 -
Dairy producers Glanbia, Müller milk private placements
Bavarian dairy group Müller is marketing US private placements, according to market sources, alongside nutrition group Glanbia.
21 Oct 2020 -
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.
21 Oct 2020 -
MMG gets $800m loan for Peru mine
Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.
21 Oct 2020
