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Banks are withdrawing from Europe’s troubled steel sector, putting the survival of even some of the most established industry players at risk and forcing companies to seek alternative funding sources.
Massive investor demand, a shortage of deals and intense competition from the red-hot US market are helping big European companies such as German car parts supplier Schaeffler to remove loan covenants and loosen the terms on their debt.
Global commodities trading company Glencore is moving its core loan financing onto a more corporate footing to better reflect its expanded activities following its US$32bn merger with miner Xstrata.
- M&A hopes rise
- UAE: Loans near for rival Maroc Tel bids
- Polkomtel to refi Z5bn of buyout loans
- Shine on
- Buffett helps lev loans play ketchup
- Feeling frothy?
- LCR concessions could hurt pricing