Monday, 23 July 2018

Isabell Witt' s stories

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  • Guy Hands of Terra Firma

    ... while borrowers increasingly favour bonds over loans

    Top News | 05 May 2012

    The leveraged loan market is coming under increasing pressure to keep up with growing high-yield bond issuances as many riskier borrowers, including previously distressed companies, tap the more liquid bond market to support new buyouts or refinancings.

  • Tikehau

    A new model

    Loans | 21 July 2012

    A new alternative lending model has been created for small- and medium-sized corporates in Europe, with banks and fund managers joining forces to tap into each others’ resources, helping fill a gap created by the retrenchment of banks keen to preserve capital and shrink their balance sheets.

  • TNK-BP

    AAR faces debt hurdles for TNK-BP bid

    Top News | 28 September 2012

    The consortium of Russian billionaires putting together a US$20bn bid for a 50% stake in Anglo-Russian oil firm TNK-BP could face significant obstacles in its attempts to raise the debt required to back a deal.

  • An ill Wind

    Loans | 06 August 2011

    Institutional investors are pushing back against a request by Wind Telecomunicazioni to raise an €800m bridge loan, given the lengthy settlement on their positions following last year’s refinancing, market sources said.

  • Arcapita CEO

    Arcapita in battle with hedge funds

    Top News | 23 March 2012

    Bahrain investment house Arcapita is gearing up for a court battle with hedge fund creditors seeking to be repaid in full or to snatch some of the company’s US$7bn assets, after it filed for Chapter 11 bankruptcy last Monday.

  • Avio

    Avio lenders shun Italian bank risk

    Loans | 18 May 2012

    Wary European loan investors are building in additional protection against Italian bank counterparty risk on a €2bn loan amend-and-extend (A&E) request for Italian aero-engine parts maker Avio as fears about the health of the country’s banks were reinforced last week by a mass downgrade.

  • Banks explore new solutions

    Loans | 20 August 2011

    The deteriorating macroeconomic situation and dysfunctional markets are forcing banks to come up with more creative and potentially financially painful solutions for €10bn of bond bridges and leveraged loans they have underwritten for buyouts in the past month.

  • Banks eye Gecina stake as owners file for bankruptcy

    Loans | 05 October 2012

    A battle over the shares of French property firm Gecina is about to begin, after 31% owners Alteco and Mag Import last week filed one of the biggest bankruptcy actions in Spanish history.

  • Banks huddle together

    Loans | 27 January 2012

    Banks underwriting new European leveraged buyouts are seeking safety in numbers in order to share risk and reduce the possibility of being stuck with deals that they may struggle to sell in volatile markets.

  • Biffa to accumulate interest as liquidity buffer

    Loans | 09 November 2012

    UK waste management firm Biffa has asked lenders to defer interest payments and put the cash into an escrow account instead to preserve working capital while the company continues talks with lenders to restructure its £1.1bn of debt.

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