July / August 2016 Issue

    Month: July
    Year: 2016

    Back to Print Editions

    Termsheet: How GSO flashed the plastic

    GSO’s €625m unitranche package to finance the merger between plastics firms Polynt and Reichhold was a record for the European private debt market.

    Will Brexit have a happy ending?

    Few in the private debt industry wanted to see Britain vote to leave the European Union. But, amid the confusion and uncertainty, there are still reasons for optimism.

    The Last Word with Ardian Private Debt

    Olivier Berment, head of Ardian Private Debt based in London, discusses the challenges Brexit poses and the trend of increasing unitranche loan packages in the European market.

    US Special: Antares shows the experience to lead

    Antares Capital details how a quarter of a century of mid-market lending experience and almost a decade of unitranche financings have created long-term relationships and private credit expertise, making it a perennial number one in the sponsor league tables.

    Keynote interview: Alcentra

    Europe may not be in recession, but there’s a huge opportunity in distressed credit right now, says Alcentra chairman & CEO David Forbes-Nixon. Here’s why

    Why energy is ripe for loan-to-own

    When it comes to taking debt positions in a distressed company and eventually owning the business, is it the oil and gas industry’s time in the limelight?

    Capital Talk: Relationship lender for a changed world

    With the banks shedding assets, the likes of Park Square Capital are stepping up as long-term debt holders. Andy Thomson meets Robin Doumar to find out how the firm will put its new €1.2bn fund to work.

    A world away from mezzanine

    ESO Capital explains how private debt can offer close alignment between management and capital in selected areas of real estate

    RE Debt special: Rules of the game

    Real estate debt funds may be a relative newcomer to the financing landscape, but terms, conditions and structures are becoming more standardised. By Vicky Meek.

    RE Debt special: An overview

    Debt funds are wading into parts of the real estate financing market vacated by the banks. David Turner finds out how the market is evolving.

    Australia: The hard sell

    Driven by low interest rates, low bond yields, an aging population and growing demand for real estate finance, Australia’s private debt market is slowly becoming an asset class worth considering for the country’s investors. Paul Yandall reports.

    Termsheet: When retailers are on the run

    TPG Specialty Lending's deal with Sports Authority highlights the opportunity for astute distressed players.

    The evolution of an asset class

    From modest beginnings seven years ago, funds are now a major feature of the real estate lending landscape.

    The Last Word: CVC Credit Partners

    Tom Newberry, head of private credit at CVC tells David Brooke that he has found good opportunities to invest in the European direct lending market amid macroeconomic volatility.

    Fund strategies: Distressed

    As market sentiment keeps changing, so do views on whether it’s a good time to bet on distress. One way to play is to manage flexible strategies that can tactically allocate between regions or different types of credit.  

    Distress in India

    Insolvency in India can be long and frustrating. PDI explores how much of an impact new bankruptcy laws are likely to have