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Prudence Ho

Adjusted Ebitda causes woe for lenders

4:48pm IST

LONDON, Oct 14 (LPC) - Lenders are concerned that adjustments to earnings on buyout deals are becoming too aggressive as borrowers get more creative in masking larger debt piles behind lower leveraged levels.

ESG restrictions see limited impact on CLO credit

08 Oct 2019

LONDON, Oct 8 (LPC) - An increasing number of CLOs are adopting environmental, social and governance investment criteria, but the exposure of leveraged loans to industries affected by ESG rules is limited, representing an average of just 3% of European CLO collateral, according to a Moody’s report.

UPDATE 1-EMEA syndicated lending drops 25% y-o-y

01 Oct 2019

LONDON, Sept 30 (LPC) - Syndicated lending in Europe, the Middle East and Africa in the first three quarters of 2019 was down 25% compared with the same period last year, reaching US$594.7bn, the lowest nine-month total since 2012, according to LPC data.

EMEA syndicated lending drops 25% y-o-y

30 Sep 2019

LONDON, Sept 30 (LPC) - Syndicated lending in Europe, the Middle East and Africa in the first three quarters of 2019 was down 25% compared with the same period last year, reaching US$594.7bn, the lowest nine-month total since 2012, according to LPC data.

BCA Marketplace to test loan market sterling appetite

06 Sep 2019

LONDON, Sept 6 (LPC) - British car auctioneer BCA Marketplace has launched a sterling-denominated term loan as part of its buyout financing, testing market appetite for UK deals amid Brexit turmoil and a potential general election.

European leveraged loans face September rush

28 Aug 2019

LONDON, Aug 28 (LPC) - Billions of euros of leveraged loans will be competing for European investors’ attention in September, as arranging banks rush to derisk and reduce exposure before the looming October 31 Brexit deadline.

Leveraged markets face cash influx from repayments

14 Aug 2019

LONDON, Aug 14 (LPC) - Billions of euros of repayments from Italian mobile operator Wind Tre and data company Refinitiv are expected to support aggressive conditions in Europe's leveraged finance markets, as investors remain under pressure to redeploy capital despite rising political and late cycle macroeconomic risks.

EMEA syndicated loans tumble to 15-year low

28 Jun 2019

LONDON, June 28 (LPC) - Syndicated lending in Europe, the Middle East and Africa (EMEA) of US$367bn for the first six months of the year hit a 15-year low as borrowers continued to avoid tapping the loan market amid global economic uncertainty, LPC data shows.

Leveraged loan investors push private equity firms on ESG

25 Jun 2019

(This story changes wording in paragraph 17 to clarify allegation in June 25 story.)

European CLO spreads widen as Japanese pull back

17 Jun 2019

LONDON, June 17 (LPC) - Slowing investment by Japanese financial institutions has pushed pricing on the most senior tranches of European CLO funds to its widest point in nearly three years as investors such as Norinchukin Bank scale back multibillion-dollar investments.

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