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Sunday, 17 December 2017

Tessa Walsh' s stories

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  • Logo of Teva Pharmaceutical Industries

    Cost of dollar lending rises

    Loans | 13 November 2015

    The combination of a series of jumbo multibillion dollar acquisition loans and a rising demand for dollar loans in the Middle East as oil prices stay stubbornly low is squeezing international banks’ returns as dollar funding costs continue to rise.

  • Western Digital logo

    Term loans rising in I-grade acquisition financing

    Loans | 30 October 2015

    The use of term loans to finance acquisitions by highly rated US companies is rising amid a late surge of M&A activity in the fourth quarter as companies such as drug retailer Walgreens Boots Alliance opt for more medium-term financing to give greater flexibility around when to tap volatile bond markets.

  • Anheuser-Busch InBev logo

    Belgium: AB InBev continues talks on jumbo loan

    Loans | 09 October 2015

    AB InBev is continuing talks with its relationship banks about a financing of up to US$70bn to back an improved all-cash proposed bid for SABMiller, after offering just over £68bn for its largest rival last Wednesday.

  • Glencore Xstrata CEO Ivan Glasenberg (C) leaves the first annual shareholders meeting next to a staff in the Swiss town of Zug

    Lenders remain supportive of Glencore

    Top News | 02 October 2015

    Lenders remain supportive of embattled commodities trader and mining company Glencore, which has about US$13bn of liquidity available and can finance its debt maturities for two years.

  • Gulf bank borrowing increases as oil prices stay low

    Loans | 02 October 2015

    Increased borrowing by Middle Eastern banks may continue into 2016 as financial institutions try to bolster their balance sheets while regional liquidity drops amid persistently low oil prices.

  • Cablevision’s switch to loans sets precedent

    Loans | 02 October 2015

    European telecoms giant Altice’s dramatic decision to switch US$1.5bn of high-yield bonds to leveraged loans in a US$8.6bn debt financing backing its US$17.7bn acquisition of US telecommunications operator Cablevision has set a precedent that more

  • Obituary: John Reffell

    People & Markets | 18 September 2015

    John Reffell, the charismatic former head of loan syndication at Chase Manhattan and Bank of Tokyo-Mitsubishi UFJ, has died after losing his fight against motor neurone disease. Reffell was one of the leading lights of the early syndicated loans market and a founder of the secondary loans market.

  • ​Park Square raises US$2.4bn fund

    Loans | 26 June 2015

    Park Square Capital, one Europe’s largest alternative capital providers, has raised US$2.4bn of committed capital for its Credit Opportunities II senior debt programme to invest in senior debt including leveraged loans as regulation continues to transform the market.

  • Italy's largest bank UniCredit is pictured in downtown Milan

    Better together

    Loans | 15 May 2015

    The upheaval in Europe’s banking sector and capital markets is being reflected in the changing structure of EMEA loan teams. UniCredit is the latest European bank to move to a combined global loan and bond syndicate team, following BNP Paribas’ recent move, setting the scene for further efficiencies.

  • A picture illustration of various currency notes

    Money for nothing?

    Loans | 08 May 2015

    Negative Libor rates could make investment-grade lending even less profitable, or even free, as banks try to resist borrowers’ requests to strip out zero Libor floors from loan documents, which raises the bizarre theoretical possibility that banks could have to pay borrowers to lend.