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...The Palmer Square Capital BDC is the first of a bunch of BDC IPOs in the pipeline, helped by the ravenous demand for non-bank “private credit” that Alphaville has discussed ad nauseam....
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...The writer is founder of Fox Legal Training Much ink has been spilled about the degrading quality of investor protections in high-yield bond and leveraged loan agreements, also known as “covenants”....
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...This and every other piece of debt outside the ringfence depend solely for its servicing on dividends coming out of the ringfence....
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...First, US risk assets are relatively insulated from the Chinese economy....
...Investec has hired First Republic Bank’s Olivia Deroy for an origination and relationship management role on its new US private equity team, based in New York....
...Bloomberg first reported the French probe on Friday. Altice declined to comment....
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...STC isn’t the first Gulf telecoms power to look to the west....
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...Théo Maret is an associate at Global Sovereign Advisory and writes a sovereign debt newsletter....
...Hanig notes that the premium is larger for smaller loans. For half-billion-dollar loans where the likes of Apollo, Ares and KKR bid, he doubts whether there are excess returns to be had....
...Japan’s Aozora Bank blamed souring US office loans today as it forecast its first full-year loss since 2009, in a sign of the rising stress in the American commercial property market....
...Ranchers from New York state to California have been some of the projects’ first beneficiaries....
...“The fund will want to see first if Milei’s aggressive austerity plan is socially and politically sustainable, which is so far unclear,” said Sebastian Menescaldi, EcoGo associate director....
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