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Friday, 22 June 2018

Claire Ruckin' s stories

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  • RCF pricing stands firm

    Loans | 07 April 2017

    Undrawn loans in Europe’s leveraged market are pricing higher than term loans for the first time as bankers dig in their heels and refuse to succumb to the downward pricing pressure seen in the term loan market.

  • Leveraged loan pricing on the rise

    Loans | 07 April 2017

    Pricing in Europe’s leveraged loan market is rising after investor pushback on recent deals that were deemed too tightly priced.

  • US dollar bills

    Cinven spurns banks on Chryso LBO

    Top News | 31 March 2017

    Private equity firm Cinven has underwritten and is self-arranging a €320m leveraged loan backing the buyout of French chemicals group Chryso, as the disintermediation of banks in Europe’s syndicated loan market notches up a gear.

  • Springer seals repricing, drops extension

    Loans | 31 March 2017

    German publisher Springer Nature has closed a repricing at the tight end of price talk and increased the size of a euro tranche by €125m to repay a portion of its dollar term loan, at the same time dropping an extension request.

  • L’Oreal targets direct lenders to fund Body Shop sale

    Loans | 24 March 2017

    L’Oreal is targeting direct lenders to provide up to €650m of leveraged loans to back a potential sale of British retailer The Body Shop, in a bid to provide certainty of debt funding and encourage possible buyers to submit an offer for the business.

  • Pension schemes fuel direct lending

    Loans | 24 March 2017

    Pension schemes are pouring money into European direct-lending strategies, fuelling the growth of larger funds and the arrival of new entrants willing to lend to leveraged European middle market companies.

  • Loans soften as investors push back on price crunch

    Loans | 24 March 2017

    Average bids on low-yielding loans are dropping in Europe’s secondary loan market as investors push back from tightly-priced paper.

  • A sign stands outside the offices of Micro Focus

    Lenders welcome US$10bn mega-loans

    Top News | 17 March 2017

    Leveraged loan investors are set to welcome two sizeable cross-border acquisition deals totalling US$11.5bn, which will offer some relief from the raft of refinancings that have dominated both the US and European markets since the start of the year.

  • British Pound Sterling banknotes

    UK banks cut and run from local loans

    Top News | 10 March 2017

    UK banks are selling hundreds of millions of pounds of performing syndicated loans made to British companies to foreign banks as they try to boost profitability by reducing their exposure to - and even exiting - unprofitable relationships to meet growing pressure on balance sheets.

  • Lev loan pricing plummets

    Loans | 10 March 2017

    Strong investor demand for paper has allowed Swedish home alarm company Verisure to squeeze pricing on an increased €425m refinancing to 300bp, marking a dramatic erosion of yield in Europe’s leveraged loan market within the space of a few weeks.