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Thursday, 19 October 2017

Tessa Walsh' s stories

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  •  Schaeffler

    Cov-lite comeback in Europe

    Top News | 26 April 2013

    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.

  • The logo of commodities trader Glencore is pictured in front of the company's headquarters in the Swiss town of Baar

    Glencore opts for corporate structure

    Loans | 26 April 2013

    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.

  • A man walks past a sign at the headquarters of telecommunications company Etisalat in Dubai

    UAE: Loans near for rival Maroc Tel bids

    Loans | 19 April 2013

    Abu Dhabi telecoms group Etisalat is set to sign an US$8bn loan facility this week with as many as 16 banks to help fund its Maroc Telecom stake bid, while Qatar’s Ooredoo, formerly Qatar Telecom, has lined up a group of 10 banks to provide a multi-billion dollar finance package for its rival approach, Reuters reported.

  • Logo of Dutch coffee and tea company DE Master Blenders 1753

    M&A hopes rise

    Loans | 19 April 2013

    European lenders are hopeful that the €3.3bn loan financing to back German investor Joh A Benckiser’s €7.5bn bid for Dutch coffee and tea company DE Master Blenders 1753 is a sign that their efforts to market M&A loans are slowly starting to bear fruit.

  • Polkomtel to refi Z5bn of buyout loans

    Loans | 22 March 2013

    Polish mobile phone operator Polkomtel has asked local and foreign banks for proposals to refinance around Z5bn (US$1.5bn) of loans from the company’s Z14.3bn buyout financing of July 2011.

  • Schuldschein market reinvented

    Shine on

    Loans | 22 March 2013

    The Schuldschein market, traditionally a borrowing mainstay of German mid-size companies, is being reinvented as a new financing tool designed to unite Europe’s cash-strapped middle market companies with fresh capital from institutional investors to fill the hole left by retreating banks. 

  • Traders work at the post that trades H.J. Heinz Co. on the floor of the New York Stock Exchange

    Buffett helps lev loans play ketchup

    Top News | 15 February 2013

    The US$28bn buyout of ketchup and baby-food maker HJ Heinz by Warren Buffett’s Berkshire Hathaway and private-equity firm 3G Capital has demonstrated the continued strength of the US leveraged loan market for big-ticket M&A buyouts.

  • Feeling frothy

    Feeling frothy?

    Loans | 25 January 2013

    The EMEA market is off to a decent start in 2013, with volumes of US$23bn, compared with US$2bn at the same time last year. Market conditions are strong but competition and low deal flow is bringing back aggressive pre-crisis features, including rock-bottom pricing and covenant-lite loans.

  • LCR concessions could hurt pricing

    Loans | 12 January 2013

    The Basel Committee has reduced the amount of high quality liquid assets that banks have to hold against syndicated loans as part of its Liquidity Coverage Ratio. While the move is good news for the loan market, bankers are worried that it will further boost liquidity and encourage an assault on pricing.   

  • arqiva

    Arqiva shareholders inject US$1.26bn in refi

    Loans | 04 January 2013

    Shareholders in UK-based broadcast transmission provider Arqiva have agreed to inject £780m of fresh equity to complete a key £3.7bn loan and bond refinancing.