Rachel McGovern
The syndicated loan market does not offer debt investors the best value for money – for that you need to go properly private. And this week TICC Capital Corp found someone to guide it in that direction.
The firm priced €230 million of triple A rated notes at 134bps over Euribor. The CLO is 3i’s sixth CLO 2.0.
The Italian investment bank is seeking to expand its asset management capabilities with the acquisition of 51 percent of Cairn Capital, the credit investor and adviser, in a deal that sees the exit of Royal Bank of Scotland.
The Italian lender is reportedly seeking to take-over London-based credit asset manager and advisor Cairn Capital.
The new vehicle includes investment by regulated German investors for the first time as well as allowing investors to recycle capital.
.jpg?id=19327356917 "Acis Group signs £80m package")
The social housing provider successfully refinanced its debt and repaid part of an outstanding loan, despite impending legislative changes that could impact its financing arrangements.
If the biggest US managers are claiming that European opportunities are the most interesting, why are their cousins across the Atlantic arguing the opposite?
(1).jpg "Channel Islands receive blessing for AIFMD passport")
In a hotly anticipated decision, the European Securities and Markets Authority issued an opinion suggesting a pan-EU marketing passport be offered to Guernsey and Jersey while requesting more time to review the regulatory regimes of the US and other major private investment domiciles.
The seven-year deal includes a £10 million undrawn acquisition line from lenders Babson, Crescent and EQT.
Asian credit opportunities have proved popular with investors and the firm is also eyeing structured credit in the region, said David Rubenstein.