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  • InfraVia injects SDG into equity bridge

    InfraVia injects SDG into equity bridge

    Infravia Capital Partners, the French private equity firm, has amended an equity bridge facility to make it align with the UN’s Sustainable Development Goals. Margins are tied to the ESG performance of its fund’s investments, following the lead of EQT and Eurazeo.

  • Santander pins corporate finance strategy on ESG

    Santander pins corporate finance strategy on ESG

    Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.

  • RBC promotes from within as Uden retires

    RBC promotes from within as Uden retires

    RBC Capital Markets has reorganised its European equity capital markets and corporate broking business following the decision of Darrell Uden to step down at the end of this month.

  • Perfect chemistry as investors cheer Ineos’s €4.6bn BP integration package

    Investors have enthusiastically backed a €4.6bn financing package for Ineos Quattro, funding the integration of BP’s aromatics and acetyls business into the chemicals conglomerate. Strong demand allowed the company to raise more secured debt than expected, cutting funding costs, and strip out a bank-targeted term loan ‘A’ in favour of a bigger, cheaper, institutional term loan ‘B’.

  • Energy firms facing insolvency bank on ABS

    Energy firms facing insolvency bank on ABS

    Securitization is emerging as the last resort for some US oil and gas companies seeking funding. Banks are deserting the equity and reserve-based lending markets they rely upon. But investors have proved eager to deploy capital in well-structured shale deals that can yield as much as 6%, meaning the ABS market may provide a lifeline for the struggling energy firms, writes Jennifer Kang.

  • Mphasis to set new record for LBO loan size from India

    Mphasis to set new record for LBO loan size from India

    Asia’s loans bankers are salivating over the prospects of working on the largest ever leveraged buyout loan from India. Blackstone is looking to exit from IT services company Mphasis in a deal that has seen plenty of interest from other private equity firms. Pan Yue reports.

  • Apax Global Alpha tweaks revolver as amend and extend trend grows

    Apax Global Alpha tweaks revolver as amend and extend trend grows

    Apax Global Alpha, a UK investment trust, has amended the terms on its €140m revolving credit facility. The deal reflects what is expected to be a big theme in the loan market this year of borrowers tinkering with existing facilities rather than doing full refinancings.

  • Flender financing to set ESG precedent for lagging levfin market

    Flender financing to set ESG precedent for lagging levfin market

    Financing for Carlyle’s purchase of Flender, a turbine gearbox manufacturer, could set a precedent for leveraged finance, which has lagged behind other debt markets in adopting instruments linked to environmental, social and governance conditions. Other issuers are sure to follow, but the market may have to solve other challenges before this can become a market standard.

  • Biogroup plans full refi after acquisition spree

    Biogroup plans full refi after acquisition spree

    Biogroup LCD is planning to refinance its full capital structure and tap the bond market for the first time after a string of recent debt-funded acquisitions. The French lab testing company was a notable casualty of the first wave of Covid-induced market chaos, forced to postpone its plans for a loan in March and then having to pay up when it returned for the financing in June.

  • Lenders rush to Grab loan, size gets boost to $1.75bn

    Lenders rush to Grab loan, size gets boost to $1.75bn

    Singaporean ride-hailing company Grab Holdings has boosted the size of its term loan B after receiving a strong response from the market, setting the stage for more Asian start-up firms to head to the US for financing.

  • Afme proposes recapping with equity-like

    Afme proposes recapping with equity-like

    Many EU companies could do with capital beyond debt, according to the Association for Financial Markets in Europe (Afme). The trade body, in a report it produced alongside PwC, suggests encouraging the use of equity-adjacent products to fill balance sheet gaps from the coronavirus crisis.

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