Friday, 21 September 2018

Isabell Witt' s stories

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  • Prices at highest level since 2007

    Loans | 11 January 2013

    European leveraged loans last week rose to their highest level since 2007, rallying alongside equity and corporate bond indices, which reached record highs on signs of improvement in the global economy. Europe’s Top 40 leveraged loans rose to 98.38% of face value on Thursday, up 49bp from the previous week and in line with levels last seen in July 2007, when loans began to retreat from their peak at the start of the financial crisis.

  • EMEA Loan House

    EMEA Loan House

    All Special Reports | 14 December 2012

    Staying the course: While many European banks struggled to stay the course in the face of the economic crisis, Deutsche Bank remained firmly in the saddle to ride out the financial storm. For consistently providing leadership across both investment-grade and leveraged loan markets, IFR’s EMEA Loan House of the Year is Deutsche Bank. 

  • EMEA Leveraged Loan

    EMEA Leveraged Loan

    All Special Reports | 14 December 2012

    Head over wheels: Burdened by a difficult credit history, German automotive components maker Schaeffler managed to successfully syndicate an €8bn refinancing despite an uncertain European leveraged loan market. Because it reopened the market in 2012 and salvaged the company’s credit structure, Schaeffler’s deal is IFR’s EMEA Leveraged Loan of the Year.

  • European CLO closure and sponsored refi cliff

    Mind the gap

    Loans | 07 December 2012

    The European leveraged loan market is bracing itself for a drop in liquidity as around €25bn from CLOs will reach the end of their reinvestment period next year and is preparing to bridge the gap by accessing other sources of liquidity such as new loan funds, the bond market and the US loan market.

  • Andrew Swan, head of Asian equities at BlackRock

    Investors move into infrastructure

    Loans | 01 December 2012

    Insurers and pension funds are pushing cash into private investment-grade infrastructure debt used for a growing number of acquisitions or refinancings in Europe, as banks are finding it harder to provide long-term financing and are pulling back from the infrastructure market.

  • Schaeffler

    Schaeffler seeks flexibility on senior loans

    Loans | 01 December 2012

    Schaeffler talked lenders through its amendment request on its €5.6bn senior loan facilities last week, as the German automotive group seeks more flexibility, in particular on its covenants amid a weaker macro-economic environment and to repay debt in the future.

  • US cash comes to Europe

    Loans | 23 November 2012

    US fund managers are beginning to move more cash into European leveraged loans as the market starts offering more attractive yields and many are positioning to fill the gap left by European banks’ deleveraging process and the withdrawal of CLOs.

  • Logo of perfumery chain Douglas is pictured on a building in Frankfurt

    Investors wary of Douglas deal

    Loans | 23 November 2012

    The acquisition by Advent International and the Kreke family of German perfume-to-book retailer Douglas Holding has not yet met the 75% shareholder approval needed for the public-to-private takeover, which is making loan investors cautious about buying debt in the deal.

  • Orizonia to wrap debt reorganisation

    Loans | 09 November 2012

    Tour operator Orizonia is restructuring around €640m of loans as it battles to survive Spain’s economic downturn. Private equity-owned Orizonia, formerly known as Iberostar, has a cash hole in its finances after revenues slumped as the eurozone crisis intensified, a senior investor said.

  • 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.