Tuesday, 18 September 2018

Isabell Witt' s stories

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  • BSN medical

    European LBO underwriters nervous

    Loans | 26 May 2012

    Underwriting large new European buyout loans is becoming increasingly nerve-wracking as arranging banks balance the need to do business and earn income against an increasingly risky macroeconomic backdrop as new buyouts remain scarce.

  • Open Grid Europe

    Nine banks lead Open Grid Europe financing

    Top News | 19 May 2012

    Nine banks are leading an infrastructure loan of up to €2.7bn backing a Macquarie-led acquisition of German utility E.ON’s Open Grid Europe gas distribution network, which was sold for €3.2bn last week after a hard-fought auction.

  • Busy Citi bags two new European LBOs

    Loans | 18 May 2012

    Citigroup added two new European buyouts to its books last week with jointly underwritten loans backing the buyouts of Swedish installation service provider Bravida and French optical retailer Alain Afflelou, which are helping to push the US lender up the leveraged loan bookrunner tables.

  • 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.

  • 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.

  • ineos

    Ineos completes US$3bn cov-lite loan

    Loans | 27 April 2012

    Covenant-lite loans – including Swiss chemicals company Ineos’s US$3.025bn piece that allocated last week – will be an exception for European investors, who are still deterred by loose documentation despite the format making a comeback in the US.

  • F1

    F1 sees hefty oversubscription

    Loans | 13 April 2012

    Formula One’s US$2.27bn dividend recap loan has attracted strong demand from investors, with the deal three times oversubscribed in the US by last Thursday’s commitment deadline.

  • Eurozone darling

    All Special Reports | 06 April 2012

    The German syndicated loan market continues to be a favourite among German and foreign banks thanks to the country’s stable economy in the ailing eurozone and blue-chip companies that supply the loan market with jumbo deals.

  • Insolvency move to help German firms

    Loans | 30 March 2012

    Changes to the insolvency law in Germany will encourage distressed companies to restructure debt at home and no longer migrate to UK courts to carry out debt-for-equity swaps.

  • 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.