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Sunday, 19 August 2018

Tessa Walsh' s stories

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  • Turkey

    Crisis puts Turkish loans on hold

    Top News | 17 August 2018

    Turkey’s deepening financial crisis is threatening efforts by its banks to refinance existing syndicated loans as financial institutions bear the brunt of the plunging lira and political turmoil.

  • Johnson Controls sign

    US$10bn plus buyout debt for JCI

    Top News | 03 August 2018

    Banks are working on debt financing of more than US$10bn to finance the buyout of Johnson Controls International’s Power Solutions business.

  • Buyout loans slump in secondary

    Buyout loans slump in secondary

    Top News | 20 July 2018

    A group of European leveraged loans that were completed earlier this year are trading below their issue price and weighing on the market after a surge in supply in the early summer helped investors to secure higher primary loan pricing from deals with stronger documentation.

  • Investors fight back against aggressive terms

    Loans | 13 July 2018

    A surge in supply in Europe’s leveraged loan market is giving investors the ammunition they need to push back against aggressive pricing and documentation, and win concessions from private equity firms and arranging banks as pricing moves higher.

  • Secondary prices tumble

    Loans | 29 June 2018

    Rising pricing in Europe’s leveraged loan market is putting pressure on secondary loan prices and punishing aggressively priced and structured deals that were sold earlier this year, as increasingly selective investors continue to take a tougher line.

  • LMA responds to EC proposal for NPLs

    Loans | 15 June 2018

    The Loan Market Association is working to avoid unintended consequences stemming from the European Commission’s efforts to tackle non-performing loans (NPLs) that it believes could cause uncertainty and disruption to primary and secondary loan markets.

  • Blackstone Group office

    Blackstone's F&R buy likely to close in September

    Top News | 04 May 2018

    US private equity firm Blackstone Group’s US$20bn acquisition of a majority stake in Thomson Reuters’ Financial and Risk unit is expected to close in September as EU regulatory requirements make a targeted July 1 completion look increasingly unlikely.

  • NBC and Comcast logos

    Lenders feel benefit of M&A surge

    Top News | 27 April 2018

    Global M&A lending has surged to US$623bn in the year to-date with the addition of a £23bn loan package for US cable operator Comcast’s bid for Sky Plc and is rapidly closing on 2017’s full-year tally of US$884bn as more gigantic international deals line up.

  • Russia

    Panic stations for banks and investors as Russia sanctions bite

    Top News | 13 April 2018

    Banks face heavy losses from being forced by new US sanctions to dump loan and bond exposure to Russian companies and individuals amid growing political tension between the two countries and increasingly panicked conditions in the market for Russian assets.

  • Steinhoff International logo

    Steinhoff loans plunge in secondary market

    Top News | 09 March 2018

    The price of Steinhoff International’s loans is falling in the secondary market as banks continue to sell to hedge funds ahead of an anticipated waiver request on the troubled South African retailer’s €10.7bn debt.

  • Blackstone Group office

    Financing shapes up for Blackstone's TR unit buy

    Top News | 23 February 2018

    Details of the US$13.5bn loan and bond financing backing US private equity firm Blackstone Group’s acquisition of a majority stake in Thomson Reuters’ Financial and Risk unit are emerging.

  • Thomson Reuters Chief Executive Jim Smith speaks about the deal with Blackstone Group in Toronto

    Subscribe to IFR (and other TR products) to win your place on US$15bn Blackstone deal

    Top News | 16 February 2018

    More banks are poised to join the US$15bn financing backing US private equity firm Blackstone Group’s acquisition of a majority stake in Thomson Reuters’s Financial and Risk unit. The financing is made up of US$14bn of bonds and loans, and a separate US$1bn payment-in-kind note.

  • LMA addresses tardy settlement

    Loans | 02 February 2018

    The Loan Market Association is introducing the prospect of financial penalties for banks that drag their heels settling primary loans by including delayed compensation for lenders that exceed recommended timelines.

  • Logo of Spanish electric utility company Iberdrola

    Iberdrola seeks record €5.3bn Green loan

    Top News | 26 January 2018

    Spanish utility Iberdrola is in the market with a €5.3bn amendment to and extension of an existing loan, which will be the biggest Green loan to be issued by a European company to date.

  • Steinhoff calls for lender support

    Loans | 15 December 2017

    Troubled South African retailer Steinhoff is calling for the support of its lenders after rescheduling its annual lender meeting in London to Tuesday from 11 December, as it seeks to stabilise its financing and operational liquidity after admitting accounting irregularities on December 6.

  • Bank of The Year: JP Morgan

    Bank of The Year: JP Morgan

    All Special Reports | 15 December 2017

    JP Morgan bestrides the world of finance in a way unprecedented in the modern era. It does more deals, makes more money and has bigger ambitions than any other banking institution. JP Morgan is IFR’s Bank of the Year and Loan House of the Year.

  • Back to the future?

    Loans | 24 November 2017

    Relaxing or repealing US Leveraged Lending Guidelines could offer banks the opportunity to take back market share lost to shadow banks and direct lenders and open the door to more multi-billion dollar buyout loans, bankers and investors said.

  • Loan banker Ellemann rejoins ABN AMRO

    People & Markets | 10 November 2017

    Peter Ellemann has joined ABN AMRO in London as a managing director in loan syndications, focusing on originating loans and private placements in Britain, Germany and France.

  • MOVES-Loan banker Ellemann rejoins ABN AMRO

    Ticker | 06 November 2017

    Peter Ellemann has joined ABN AMRO in London as a managing director in loan syndications, reporting to Jacco Keijzer, head of syndications, who is based in Amsterdam, the bank said on Monday.

  • Office Depot highlights retailers' loan woes

    Loans | 03 November 2017

    Office supply retailer Office Depot has been forced to sweeten terms on a US$750m term loan B after retailers’ secondary loan prices tumbled in the wake of department store JC Penney’s profit warning as the troubled sector continues to suffer in the US leveraged loan market.

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