Syndicated loan

KBRA UK Releases Research – Loss Mitigation Obligations: CLO Workout and Flex

Retrieved on: 
Wednesday, April 28, 2021

b'Kroll Bond Rating Agency UK Limited (KBRA) releases research on the widespread adoption of provisions relating to workout or loss mitigation obligations (LMOs) in the vast majority of newly issued\xe2\x80\x94and even refinanced\xe2\x80\x94U.S.

Key Points: 
  • b'Kroll Bond Rating Agency UK Limited (KBRA) releases research on the widespread adoption of provisions relating to workout or loss mitigation obligations (LMOs) in the vast majority of newly issued\xe2\x80\x94and even refinanced\xe2\x80\x94U.S.
  • and European broadly syndicated loan CLO (BSL CLO) offering documents, as market participants grapple with the prospect of further economic fallout from the COVID-19 pandemic.\nAs CLO collateral managers continue to anticipate stress on corporate obligors within their portfolios, LMO provisions allow them the latitude necessary to participate in workouts or restructurings in order to preserve and/or enhance the recovery value of their positions.\nIn this report, KBRA highlights some of the key issues around LMOs, including credit and management considerations.\nClick here to view the report.\nCOVID-19: U.S. BSL CLO Sector Exposure Map: February 2021\nKBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada.
  • KBRA\xe2\x80\x99s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210428005700/en/\n'

Finastra and HUBX collaborate to streamline loan syndication process

Retrieved on: 
Tuesday, April 13, 2021

b'LONDON, April 13, 2021 /PRNewswire/ -- Finastra today announced its collaboration with HUBX to bring increased efficiency to corporate lenders during the loan syndication process through the reduction of manual processes.

Key Points: 
  • b'LONDON, April 13, 2021 /PRNewswire/ -- Finastra today announced its collaboration with HUBX to bring increased efficiency to corporate lenders during the loan syndication process through the reduction of manual processes.
  • The integration of the HUBX digital front-office platform, HUBX Arranger, with Finastra\'s market leading back-office loan software, Fusion Loan IQ, creates an enhanced end-to-end offering which boosts efficiency and harnesses data insights and automation to ultimately improve customer experience.
  • HUBX Arranger leverages data and insights to boost customer experience and increase the pace at which corporate banks can execute transactions.
  • "\nAs a front-office syndication tool, HUBX Arranger offers a completely digitized bookrunning process, set apart from other tools in this space by its modular and API-first approach.

Finastra and HUBX collaborate to streamline loan syndication process

Retrieved on: 
Tuesday, April 13, 2021

b'Combined offering increases efficiency for lenders, introduces liquidity to the market and ultimately improves customer experience\nLONDON, April 13, 2021 /PRNewswire/ -- Finastra today announced its collaboration with HUBX to bring increased efficiency to corporate lenders during the loan syndication process through the reduction of manual processes.

Key Points: 
  • b'Combined offering increases efficiency for lenders, introduces liquidity to the market and ultimately improves customer experience\nLONDON, April 13, 2021 /PRNewswire/ -- Finastra today announced its collaboration with HUBX to bring increased efficiency to corporate lenders during the loan syndication process through the reduction of manual processes.
  • The integration of the HUBX digital front-office platform, HUBX Arranger, with Finastra\'s market leading back-office loan software, Fusion Loan IQ, creates an enhanced end-to-end offering which boosts efficiency and harnesses data insights and automation to ultimately improve customer experience.
  • HUBX Arranger leverages data and insights to boost customer experience and increase the pace at which corporate banks can execute transactions.
  • "\nAs a front-office syndication tool, HUBX Arranger offers a completely digitized bookrunning process, set apart from other tools in this space by its modular and API-first approach.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: February 2021

Retrieved on: 
Tuesday, March 23, 2021

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March 2020 through February 2021 trustee reports for a representative sample of transactions.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: January 2021
    KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada.

Global $8809.55 Billion Lending Markets, 2015-2020, 2020-2025F, 2030F

Retrieved on: 
Wednesday, March 10, 2021

Lending Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global lending market as it emerges from the COVID-19 shut down.

Key Points: 
  • Lending Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global lending market as it emerges from the COVID-19 shut down.
  • The global lending market is expected to grow from $6036.37 billion in 2020 to $6932.29 billion in 2021 at a compound annual growth rate (CAGR) of 14.8%.
  • The lending market is segmented into corporate lending; household lending and government lending.
  • Participation lending, also known as syndicated lending, is gaining prominence as it reduces risks associated with lending large capital.

Mallinckrodt Gains Support for Its Restructuring Support Agreement from Lenders Holding Approximately $1.3 Billion of Its First Lien Term Loans

Retrieved on: 
Wednesday, March 10, 2021

DUBLIN, March 10, 2021 /PRNewswire/ --Mallinckrodt plc (OTCMKTS: MNKKQ) ("Mallinckrodt" or the "Company") today announced that it has reached agreement with an ad hoc group of first lien term lenders holding approximately $1.3 billion of its outstanding First Lien Term Loans (the "First Lien Term Loan Lenders") to support the Company's previously announced restructuring support agreement ("RSA").

Key Points: 
  • DUBLIN, March 10, 2021 /PRNewswire/ --Mallinckrodt plc (OTCMKTS: MNKKQ) ("Mallinckrodt" or the "Company") today announced that it has reached agreement with an ad hoc group of first lien term lenders holding approximately $1.3 billion of its outstanding First Lien Term Loans (the "First Lien Term Loan Lenders") to support the Company's previously announced restructuring support agreement ("RSA").
  • The agreement, which is based on providing new term loans financing to replace the First Lien Term Loans, resolves the open dispute between the Company and the First Lien Term Loan Lenders as to how such Lenders are to be treated under the restructuring plan and serves to extend near-term debt maturities.
  • As we work to complete this process, we remain focused on developing new therapies, improving patient health outcomes and supporting underserved patients."
  • To become effective, the agreement must be supported by Lenders holding 66.7% of each of the First Lien Term Loans due in 2024 and the First Lien Term Loans due in 2025, the Governmental Ad Hoc Committee, the MSGE Group and majority of the guaranteed bondholders.

DGAP-News: Sixt SE: ​​​​​​​Sixt SE redeems loan concluded with the participation of KfW and concludes new syndicated credit line of EUR 750 million with renowned bank consortium

Retrieved on: 
Monday, March 1, 2021

Previously undrawn syndicated loan with the participation of KfW to now be replaced by the new credit line that will serve as an additional financing instrument.

Key Points: 
  • Previously undrawn syndicated loan with the participation of KfW to now be replaced by the new credit line that will serve as an additional financing instrument.
  • By taking out the new syndicated loan without KfW's participation, we are financially equipping ourselves for an increase in demand for mobility services after corona.
  • Pullach, 01 March 2021 - Sixt SE has signed a long-term syndicated loan agreement in the amount of EUR 750 million with a renowned bank consortium.
  • The new revolving credit line completely replaces the previously unused syndicated loan concluded at the beginning of May 2020 with the participation of Kreditanstalt fr Wiederaufbau (KfW).

Otterbourg Names Valerie Mason and Nneoma Maduike as Co-Chairs of Lender Finance Practice Group

Retrieved on: 
Friday, February 26, 2021

announced today that Valerie S. Mason and Nneoma A. Maduike have been named Co-Chairs of the firms Lender Finance Practice Group.

Key Points: 
  • announced today that Valerie S. Mason and Nneoma A. Maduike have been named Co-Chairs of the firms Lender Finance Practice Group.
  • Ms. Maduike and Ms. Mason are also members of Otterbourgs Finance practice, which encompasses acquisition finance, asset-based lending, structured finance, bankruptcy financing, international and syndicated lending, among other specialized areas.
  • The newly formed Lender Finance practice group reflects a formal acknowledgment of Otterbourgs long term growth and expansion of lender finance transactions as part of that practice and our ability to help lenders limit and manage their risk while developing positive relationships with borrowers.
  • Otterbourgs Lender Finance practice is a subset of Otterbourgs highly regarded Finance practice, in which Ms. Maduike and Ms. Mason are members of the firm and for which the firm is highly regarded and frequently honored by leading industry associations and publications.

UnitedLex Congratulates Credit Suisse on Providing the Most Efficient Secondary Trades Settlement Services in the European markets for 2019 and 2020

Retrieved on: 
Wednesday, February 24, 2021

UnitedLex congratulates Credit Suisse on being recognized as the number one most efficient provider of Secondary Trades settlement services in the European (LMA) markets two years consecutively (2019 and 2020).

Key Points: 
  • UnitedLex congratulates Credit Suisse on being recognized as the number one most efficient provider of Secondary Trades settlement services in the European (LMA) markets two years consecutively (2019 and 2020).
  • UnitedLex is proud of the work our LexLoan team has done to support Credit Suisse in earning this distinction.
  • Credit Suisse has partnered with UnitedLex since 2011 in the loan syndication operations in both the American (LSTA) and European (LMA) markets.
  • As part of the Corporate and Commercial Services group within UnitedLex, LexLoan Services apply the award-winning processes developed at Credit Suisse and UnitedLex to deliver industry excellence in the Syndicated Loan markets.

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: January 2021

Retrieved on: 
Tuesday, February 23, 2021

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to corporate sectors amid the ongoing coronavirus (COVID-19) pandemic.
  • In this report, we provide an update on U.S. CLO sector exposure and overall industry credit quality, based on reported data from March 2020 through January 2021 trustee reports for a representative sample of transactions.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: December 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.