The Royal Bank of Scotland has appointed Pascal Werner as managing director and head of leveraged finance France following the departure of Michel Chabanel.
The French unit of Italian private equity firm 21 Investimenti is close to announcing a final close of its second expansion capital fund.
Apollo Management, Soros Private Equity Partners and Goldman Sachs Capital Partners have invested $350m to take a majority stake in Cablecom, the Swiss cable television company.
What's the outlook for the US debt market in 2004? The answer depends on whether you ask a senior, mezzanine, or high yield debt provider. Alex J. Stockham reports up and down the financial structure about what these leveraged finance professionals are seeing and how they're feeling.
When PEI sat down with five seasoned leveraged finance professionals in London recently, it became clear that although business is good, they were keen to tread carefully in today's market. There also seemed to be a growing sense that the dynamic between sponsor and finance provider has changed – to the sponsors' advantage. We talked to them about the issues behind this shift and heard why getting it right matters all the more today.
The leveraged finance community in Europe have plenty to be working on: the deal pipeline is filling up and the private equity firms have the appetite to acquire sizeable assets. But the problem is that a host of financiers have noticed this. Whether a senior or more subordinated debt or mezzanine provider: wherever you tread you are going to find several of your peers ahead and behind you. Is it time to start talking about a leverage finance overhang, ask David Hawkins and Philip Borel.
In the late 1990s, the bottom dropped out of the European high yield market, not least because of problems in the cable sector. Now high yield is coming back, and its appetite for cable is recovering as well.
'Enronitis' and America's 'No Growth' economic future are threatening to stifle entrepreneurial spirits in the US, argues Joseph W. Bartlett, Of Counsel Fish & Richardson.
Struggling Dutch distribution company Hagemeyer, which is currently considering the sale of part of its equity to a financial investor, has sold its technical tape unit to Gilde Investment for E33m.
The Dutch distribution business has confirmed that it is holding talks with Clayton, Dubilier & Rice over ways of refinancing the debt-laden business.