Private Equity
Despite coming in the teeth of the global credit dislocation, Permira’s ¥185bn buyout of Japan’s Arysta LifeScience has closed to a blowout response. Conservatively structured, well priced and with a strong credit story, success proves that the Asian market is open to the right name. Prakash Chakravarti and Atanas Dinov report.
4 min read · 13 March 2008
1 min read · 13 March 2008
1 min read · 13 March 2008
As the leveraged loan space has matured it has shifted back and forth between being an issuer’s and an investor’s market. Today, however, neither group is happy. Thanks to the state of the secondary market, it is nearly impossible for arrangers to syndicate new deals without losing money, and low price levels have forced many money managers to sell their loan portfolios. Neither side sees a solution to their problems in the near term. Donal O’Donovan and Timothy Sifert report.
4 min read · 28 February 2008
1 min read · 28 February 2008
1 min read · 28 February 2008
Restructuring professionals are gearing up for a sharp uptick in defaults, bankruptcies and reorganisations. The signs, they say, are all around but for the past few years the expectation that defaults would spike has proved premature as banks flush with capital quickly offered fresh debt and syndicated out the risk. Not this time, writes Philip Scipio.
4 min read · 28 February 2008
Goldman Sachs and Carlyle have once again stolen the limelight in the European structured finance market. In a week that saw unprecedented loan market weakness, the two are marketing a CLO backed by good credits sourced at bargain prices – potentially thanks to forced sales. William Thornhill reports.
3 min read · 28 February 2008
5 min read · 28 February 2008
The buyout market in Central and Eastern Europe looks to have survived the worst effects of the credit crunch and, with investors becoming more comfortable with the region's politics, it is set to be one of the few bright spots for those concerned with the leveraged finance market in 2008. Donal O’Donovan reports.
5 min read · 14 February 2008
