Hints and tips:
...“A lot of underwriters are on the sidelines and so to get a syndicated deal underwritten at scale is challenging....
...Talking to people across the industry — direct lenders, managers of business development corporations, and so on — one idea that keeps coming up is that private credit investors are protected by large equity...
...Here’s a lengthy comment from Michael Arougheti, CEO of Ares Management Corporation, from a talk at a Bernstein conference in May: . . ....
...“[But] you’re starting to see the syndicated option come back.”...
...The potential blockbuster takeover of Twitter by Elon Musk could add to the list of hybrid deals, with financing expected to come from a mix of syndicated debt as well as private lenders....
...It’s not a completely clean break,” said Jeff Bakalar, group head of leveraged credit at Voya Investment Management....
...He found private lenders were twice as likely as the broadly syndicated loan market to ask for borrowers to agree to inject new capital into deals, forestalling restructuring....
...The country’s two main state-owned groups, China Aerospace Science and Industry Corporation and China Aerospace Science and Technology Corporation, are attempting to catch and then overtake US and Russian...
...Local residents are asked to upload images and geo-tags of new cameras to an ever-growing list....
...This week, BNP Paribas helped close $3.25bn sustainability-linked syndicated credit facilities for Crown, a Philadelphia-based packaging company....
...But Geo Corneby, an MBA student from the Philippines studying at Rotterdam School of Management, says the trend towards a focus on “doing good” and having a social impact rather than simply making money...
...“Corporations, particularly small and middle market businesses, have been living day-to-day based on their access to liquidity.”...
...Over 2014-17, six Chinese banks including the China Development Bank and China Eximbank participated in $25.7bn worth of syndicated loans for electricity projects in BRI countries, of which $10.2bn, 40 per...
...Green Park said efforts to improve leadership diversity in big corporations were paying dividends, “but only if you’re female, and mostly if you’re white”....
...Admittedly it’s historically been unusual for eurozone sovereigns to carry out syndicated debt buy-backs....
...That’s the rebranded name of Corrections Corporation of America, the private prison operator. GEO Group, the company at the bottom of the list above, is in the same business....
...top of money management companies are no different....
...Blockchain — which combines the peer-to-peer computing ethos of Silicon Valley with the money management of Wall Street — is slowly being introduced to financial markets....
...Ary Naïm, who heads the Mexico office of the World Bank’s International Finance Corporation, says credit for the private sector adds up to less than 30 per cent of Mexico’s GDP, versus a 44 per cent average...
...Although he had management roles in his careers, including head of investment banking, he latterly had the amorphous title of vice-chairman and focused on deals....
...Since then, low interest rates have encouraged banks to once again create syndicated leveraged loans that offer investors the chance to earn higher-yields....
...There are doubtless many explanations, including the new geo political uncertainty tempering animal spirits....
...The state holding company, the Investment Corporation of Dubai, earlier this week raised a $2.55bn five-year syndicated loan to refinance part of a $6bn facility that matures in August....
...A Paif allows funds to pay gross dividends from property rental income with no corporation tax deducted....
...Paul Udall, manager of the GAM Star Geo fund, highlights “a growing number of scandals involving poor corporate governance”, such as the case of Sino-Forest Corporation, which was first flagged up by Muddy...
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