Edition:
United Kingdom

David Brooke

BDC leverage reform grows divide between large and small players

20 May 2019

NEW YORK, May 20 (LPC) - A legislative change that has doubled the leverage cap for Business Development Companies (BDC) is set to fuel further bifurcation between larger and smaller platforms, as many start to get approval to increase debt on the balance sheet.

Rapid rise of direct lending pushes firms to split risk

15 May 2019

NEW YORK, May 15 (LPC) - Direct lending funds, which are providing capital to middle market companies in increasing amounts, are turning to fellow funds to reduce credit exposure.

UPDATE 1-Shrinking lender protections frustrate loan buyers

24 Apr 2019

NEW YORK, April 24 (LPC) - The imbedded risk of US leveraged loan packages with reduced lender protections is not reflecting on the trading values, to the dismay of investors who want to see a greater premium for the heightened risk exposure.

Shrinking lender protections frustrate loan buyers

24 Apr 2019

NEW YORK, April 24 (LPC) - The imbedded risk of US leveraged loan packages with reduced lender protections is not reflecting on the trading values, to the dismay of investors who want to see a greater premium for the heightened risk exposure.

Indivior’s loans take hit following fraud claims

11 Apr 2019

NEW YORK, April 11 (LPC) - Pharmaceutical company Indivior’s loan dropped in secondary trading following criminal charges relating to its Suboxone drug.

Multi-level marketers squeezed in the loan market

10 Apr 2019

NEW YORK, April 10 (LPC) - Loans for multi-level marketing (MLM) companies dropped in the secondary market amid growing concerns among investors about the business model during a period of record employment in the US and increasing scrutiny on workplace practices.

Fed’s dovish turn sends ripples through US leveraged loan demand

02 Apr 2019

NEW YORK, April 2 (LPC) - The US Federal Reserve’s decision to hold off on any further interest rate rises for the remainder of the year has sent retail investors fleeing leveraged loans, which are attractive in a rising rate environment because of their floating-rate coupons.

Investors look to ratings agencies to punish aggressive loan docs

28 Jan 2019

LONDON (LPC) - Investors are calling on ratings agencies to downgrade leveraged loans with overly aggressive documentation, as weak lender protection continues to cause concern.

Carney raises pressure on leveraged loans

21 Jan 2019

LONDON, Jan 21 (LPC) - The chorus of warnings about leveraged loans as a potential threat to financial stability grew louder after the Bank of England expressed concern again that the market might be heading for trouble.

REFILE-EMEA lending rises to US$1.05trn in 2018

03 Jan 2019

LONDON, Jan 3 (LPC) - Syndicated lending in Europe, the Middle East and Africa in 2018 broke the trillion dollar mark for the first time in three years as volume rose 17.4% to US$1.05trn due to increased refinancing activity and stable levels of M&A financing, according to LPC data.

World News

India's Modi stuns opposition with huge election win

Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security.