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Thursday, 19 October 2017

Tessa Walsh' s stories

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  • UK: SABMiller readies jumbo loan for new Foster's bid

    Loans | 12 August 2011

    Global brewer SABMiller is assembling a bank group for a multibillion dollar syndicated loan to back a fresh bid for Australian brewer Foster’s. The acquisition loan, which will be one of the biggest deals of the year, is expected to be supported by relationship banks despite volatile market conditions.

  • SABMiller bids for Fosters

    SABMiller poses dollar dilemma

    Top News | 19 August 2011

    Global brewer SABMiller’s US$12.5bn acquisition loan highlighted European banks’ deepening dollar funding crisis, which made it difficult and economically painful to commit to a jumbo US dollar-denominated loan last week. The deal, which was scheduled to be signed on Friday, could yet see some high-profile drop-outs, bankers said.

  • SABMiller bids for Fosters

    Ten out of 12 join SABMiller's jumbo facility

    Top News | 26 August 2011

    Ten banks have been formally mandated to lead global brewer SABMiller’s US$12.5bn acquisition loan, which backs its hostile US$10bn hostile bid for rival Foster’s. SABMiller asked 12 relationship banks to provide US$1.6bn each to back the bid, which was increasingly difficult for European banks as dollar funding costs spiked.

  • US Dollars

    European banks seek dollar premium

    Top News | 02 September 2011

    The EMEA loan market continues to see unusual developments indicating stress around dollar lending. Banks’ responses to the dollar funding crisis range from taking a tougher line on deal economics and working relationships harder to asking companies to limit, eradicate or pay more for drawn dollar loans.  

  • Counting dollars

    Sberbank joins US$25bn rush

    Top News | 23 September 2011

    Russia’s biggest bank, Sberbank, has joined the queue of emerging EMEA borrowers trying to secure large US dollar loans as the region’s dollar squeeze intensifies. Sberbank’s US$2bn loan boosts the volume of pending dollar deals in Central and Eastern Europe and the Middle East to about US$25.3bn as the dwindling supply of dollars points to steep price rises ahead.

  • Societe Generale

    French banks dump assets

    Top News | 15 October 2011

    French banks have put global portfolios of loans up for sale, including US dollar loans to highly-rated companies and project financing deals, as they try to reduce their balance sheets ahead of the European Commission’s compulsory recapitalisation plan, which could produce billions of dollars of loan sales globally as banks try to sell assets rather than raise capital at depressed equity prices or through a dislocated bond market.

  • Big buyouts stalled in capital markets freeze

    Loans | 21 October 2011

    Large European private equity buyouts are on hold until capital markets revive, which is unlikely to happen this side of Christmas as leveraged loan and high-yield bond markets remain weak.

  • G4S

    Up for grabs: G4S loan and extras

    Top News | 22 October 2011

    The €4.4bn acquisition financing backing UK security group G4S’s £5.2bn purchase of Danish facilities company ISS from private equity firms EQT and GS Capital Partners was conceived and launched quickly in a move designed to limit market risk.

  • French banks: just say 'non'

    Top News | 28 October 2011

    Deleveraging French banks are pushing ahead with global asset sales but are also managing their capital aggressively by refusing to lend to US dollar syndicated loans for key corporate clients.

  • ISS Security Services

    G4S failure has a silver lining

    Top News | 04 November 2011

    The €4.4bn acquisition loan backing British security group G4S’s £5.2bn bid for Danish facilities company ISS disappeared in a puff of smoke last week, after the company’s bid collapsed amid stiff opposition from shareholders.

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