IFR International - 21.07.2018

(Martin Jones) #1
LOANS LEVERAGED LOANS

DUEûTOûCONCERNSûFROMûTHEû!USTRALIANû
#OMPETITIONûANDû#ONSUMERû
#OMMISSIONûTHATûITûWOULDûHURTû
COMPETITIONûINûTHEûSECTORû"AINûHADû
ACQUIREDû#AMPû!USTRALIAûTHROUGHûAû
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YEARûSECOND
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 ûWHILEûTHEûMARGINûOFûTHEûSECOND
LIENû
NOTEûWASûINûTHEûMID
Sû


TRIO UNDERWRITES INVESTA BUYOUT LOAN

4HREEûBANKSûAREûUNDERWRITINGûAû!BNû
53BN ûlVE
YEARûLOANûBACKINGûPRIVATEû
EQUITYûGIANTû"LACKSTONEû'ROUPSû
LEVERAGEDûBUYOUTûOFûINVESTA OFFICE FUND
Citigroup ûDeutsche Bank and National Australia
BankûAREûTHEûMANDATEDûLEADûARRANGERSûANDû
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DISTRIBUTION
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RESTRUCTURING


EUROPE/MIDDLE EAST/
AFRICA

STEINHOFF ENTERS LOCK-UP
AGREEMENT

3OUTHû!FRICANûRETAILERûSTEINHOFF has
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UPûAGREEMENTû
WITHûTHEûCREDITORSûOFû3TEINHOFFû%UROPEû
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ûWILLûREMAINû
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 ûSUBJECTûTOûANYûEXTENSION
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 ûCAPITALISINGûTWICEûAûYEARûBUTûONLYû
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WHICHûHOLDSûABOUTûûPROPERTYûASSETSû

ûHAVEûAGREEDûTOûTHEûTERMSûOFûTHEûDEBTû
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ITSûLENDERSûTHEûTERMSûOFûAûLOCK
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TRIGGEREDûANûûSLIDEûINûITSûSHAREûPRICEû
ANDûAûRAFTûOFûCHANGESûINûITSûBOARDROOM

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