Tuesday, 20 February 2018

Claire Ruckin' s stories

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  • 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.

  • Allnex drops repricing for divi recap

    Loans | 10 March 2017

    Allnex agreed a €1.8bn-equivalent loan to back a dividend recapitalisation that will net a €425m payout to its owners, after ditching plans to reprice an existing loan following huge demand from investors for the Belgian chemicals company to issue new paper.

  • A wad of British pound bills

    Loan market continues to flex its muscles

    Top News | 03 March 2017

    A €1.1bn financing backing a buyout of European medical laboratory services operator Cerba is being shown to early-bird investors in a bid to gauge appetite for the deal, which could result in significantly reducing or even dropping a bond portion from the structure, as leveraged loans continue to win favour with spon

  • Keter's loans gift investors hefty profit

    Loans | 03 March 2017

    Israeli furniture maker Keter Group’s recently allocated €320m add-on loan has broken through par on Europe’s secondary loan market, gifting over three points of profit to investors willing to take a punt on one of the trickiest loan syndications so far this year.

  • Rising secondary loans catch traders short

    Loans | 24 February 2017

    Europe’s secondary loan market has peaked at an all-time high with the composite reaching 100.94 this month, according to Thomson Reuters LPC data, fuelled by a supply-demand imbalance that is affecting banks as traders take hits to cover costly shorts.

  • Bankers ready €2.6bn deal for potential Stada sale

    Loans | 17 February 2017

    Bankers are preparing a debt financing of around €2.6bn to back a potential private equity buyout of publicly listed German generic drugs and consumer care group Stada.