Edition:
United Kingdom

Aaron Weinman

MOVES-UBS veteran Pinto-Leite to retire

4:15pm BST

NEW YORK, April 24 (LPC) - UBS’ global co-head of leveraged finance Francisco Pinto-Leite is planning to retire at the end of this year after approximately 17 years with the Swiss investment bank, according to a source familiar with the move.

Loan documents deteriorate further following Neiman Marcus lawsuit

4:13pm BST

NEW YORK, April 24 (LPC) - Companies emboldened by a favorable court decision for Neiman Marcus are taking advantage of the outcome to include language in loan documents curbing how corporates allocate the collateral packages of their subsidiaries, making it even harder to recover losses.

Banks push green agenda in Latin America even as borrowers resist

17 Apr 2019

NEW YORK, April 17 (LPC) - Banks active in Latin America have earmarked potential green loans for corporate borrowers, which seek to advance environmental, social and governance (ESG) criteria, despite some companies’ reluctance to allocate resources to environmentally-friendly operations.

Engie, CDPQ consortium line up financing for Brazilian TAG pipeline buy

08 Apr 2019

NEW YORK, April 8 (LPC) - French energy company Engie and Canadian pension fund Caisse de Dépôt el Placement du Québec (CDPQ) will tap into both dollar- and Brazilian real-denominated debt with nine lenders to back its purchase of the Transportadora Associada de Gás (TAG) natural gas pipeline in Brazil from state-controlled energy company Petróleo Brasileiro (Petrobras), according to three sources familiar with the transaction.

Venezuela-owned Citgo rallies non-banks to raise US$1.2bn in loans

28 Mar 2019

NEW YORK, March 28 (LPC) - Venezuela-owned oil refiner Citgo mandated broker dealer and non-bank lender Jefferies to arrange a US$1.2bn term loan, after its previous traditional bank lenders declined to participate due to regulatory pressure to comply with political restrictions on doing business with its South American parent, sources familiar with the transaction said.

LatAm’s top borrowers seize cheap loans as banks starve for dollar deals

21 Mar 2019

NEW YORK, Mar 21 (LPC) - Latin America’s most well-known corporate borrowers are increasingly tapping the bank loan market for low-cost funding, finding an international lender base hungry to deploy capital and grow their dollar exposure to the region.

Trinidad Petroleum secures new bank loans as bond repayment looms

12 Mar 2019

NEW YORK, March 12 (LPC) - Trinidad Petroleum Holdings (TPH) is in advanced debt restructuring talks with banks and has secured new loans of up to US$1.4bn based on oil reserves to ease a looming US$850m bond maturity in August, four people familiar with the matter said.

Citgo loans price in potential regime change in Venezuela

27 Feb 2019

NEW YORK (LPC) - The bank debt of oil refiner Citgo Petroleum Corp, US subsidiary of Petróleos de Venezuela SA (PDVSA), has been volatile in recent days as Venezuela’s political crisis deepens and the market prices in a potential regime change in the South American nation.

Citgo loans price in potential regime change in Venezuela

27 Feb 2019

NEW YORK, Feb 27 (LPC) - The bank debt of oil refiner Citgo Petroleum Corp, US subsidiary of Petróleos de Venezuela SA (PDVSA), has been volatile in recent days as Venezuela’s political crisis deepens and the market prices in a potential regime change in the South American nation.

Banks target Mexico’s low-risk credits amid political uncertainty

22 Feb 2019

NEW YORK, Feb 22 (LPC) - International lenders active in Mexico are targeting less risky companies to maintain some exposure in a country adjusting to sweeping new policies from the newly-elected left-wing president Andrés Manuel López Obrador.

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