Claire Ruckin

Banks struggle to close Evonik's Madrid unit buyout loan

12 Jun 2019

LONDON, June 12 (LPC) - A €1.785bn leveraged loan backing private equity firm Advent’s acquisition of German chemicals group Evonik’s methacrylates plastics unit, Madrid is yet to fully clear despite steep discounts offered on the deal last week, banking sources said.

Banks line up €1bn debt as CRH unit sale heats up

06 Jun 2019

LONDON, June 6 (LPC) - Bankers are working on debt financings in excess of €1bn to back a potential sale of Irish building materials group CRH’s European distribution arm as bidders prepare second round bids, banking sources said.

Banks take hit on challenging loans

06 Jun 2019

LONDON, June 6 (LPC) - Underwriting banks have taken a hit on two European leveraged buyout loans as investors take an unforgiving approach to more challenging credits.

Banks offload Iberconsa LBO loan at deep discounts

06 Jun 2019

LONDON, June 6 (LPC) - Banks have sold a €300m term loan backing Platinum Equity’s acquisition of a majority stake in Spain’s frozen fish producer Iberconsa at a huge discount, implying losses for the underwriters, banking sources said.

Sector Alarm shareholders reap €250m dividend payout

06 Jun 2019

LONDON, June 6 (LPC) - Shareholders in Sector Alarm, the second largest alarm firm in Europe, have taken around €250m as a dividend payout as part of a wider €590m recapitalisation, banking sources said.

Banks face losses on Evonik' methacrylates unit buyout loan

05 Jun 2019

LONDON, June 5 (LPC) - A €1.785bn leverage loan backing private equity firm Advent’s €3bn acquisition of German chemicals group Evonik’s methacrylates plastics unit, Madrid has been offered at a steep discount implying a potential loss for underwriting banks, banking sources said.

CVC secures €1.6bn Elsan debt in event of a sale

05 Jun 2019

LONDON, June 5 (LPC) - CVC has secured portability on French private hospitals operator Elsan’s €1.6bn debt that will enable it to remain in place in the event of a sale within the next two years, banking sources said.

Vue scraps sterling term loan in refi relaunch

04 Jun 2019

LONDON, June 4 (LPC) - UK cinema chain Vue International has opted for euro term loans as part of a revamped £878m-equivalent refinancing, shunning the sterling market following investor feedback.

Leveraged loan borrowers shun sterling

22 May 2019

LONDON, May 22 (LPC) - Leveraged loan borrowers are shying away from sterling in the run up to Brexit, instead opting to raise euros or dollars with swaps in place, restricting further an already illiquid market.

Banks line up SFr5bn loans to back Nestle Skin Health buy

16 May 2019

LONDON, May 16 (LPC) - Banks are lining up a jumbo leveraged loan financing of around SFr5bn-equivalent (US$4.955bn) to back a SFr10.2bn sale of Nestle’s Skin Health business to a consortium led by EQT Partners and Abu Dhabi's ADIA, banking sources said on Thursday.

World News

"Sea of black" Hong Kong protesters demand leader step down

Hundreds of thousands of people clogged the streets in central Hong Kong on Sunday dressed in black to demand the city's leader step down, a day after she suspended an extradition bill in a dramatic retreat following the most violent protests in decades.