United Kingdom

Prudence Ho

European secondary loans experience low volatility in 2019

10 Jan 2020

LONDON, Jan 10 (LPC) - Europe’s secondary loan market experienced low volatility in 2019 as deep liquidity and a desire to put money to work saw investors brush off market uncertainties such as Brexit and trade war.

EMEA syndicated lending dips to US$984bn in 2019

06 Jan 2020

LONDON, Jan 6 (LPC) - Syndicated lending in Europe, the Middle East and Africa in 2019 totalled US$984.5bn in 2019, down 6% on 2018 volume, as global risks such as US/China trade wars, slowing economies and Brexit weighed on loan market activity, according to Refinitiv LPC data.

Disclosure rules to force private debt funds to address ESG

11 Dec 2019

LONDON, Dec 11 (LPC) - European private debt fund managers are facing pressure to address environmental, social and governance issues as they get swept up in new and far-reaching disclosure regulations laid out by the European Parliament on sustainable investments.

Rating agencies boost ESG risk analysis

18 Nov 2019

LONDON, Nov 18 (LPC) - Credit rating agencies are increasing their efforts to identify environmental, social and governance risks for leveraged companies as investor interest in sustainable investments surges amid competition from independent ESG ratings firms.

CLO managers under pressure to ramp up efforts on ESG investing

01 Nov 2019

LONDON, Nov 1 (LPC) - A number of investors in CLOs are holding talks with CLO managers over how environmental, social and governance issues factor into their leveraged loan portfolio decisions.

Kantar wraps up financing after sweeping changes

25 Oct 2019

LONDON, Oct 25 (LPC) - Data provider Kantar has allocated a €3.08bn-equivalent leveraged financing backing its buyout by Bain Capital, but only after making wholesale changes after push back from investors on what they saw as an aggressive structure.

Transfer restrictions concern loan investors

25 Oct 2019

LONDON, Oct 25 (LPC) - European leveraged loan borrowers have attempted to place tougher transfer restrictions on how much investors can trade in portfolio companies, in a bid to curb liquidity.

Adjusted Ebitda causes woe for lenders

14 Oct 2019

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.

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