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Varta is going through a period of unprecedented financial turbulence. The group has just announced a major restructuring of its debt, reducing it from 485 million euros to 200 million euros. Although essential for the company’s long-term stabilization, this restructuring has resulted in a total devaluation of its shares, a dry loss for investors. The […] L’article Varta: Sharp fall in share price after #debtrestructuring est apparu en premier sur energynews.

FT- 3i set for €1bn windfall as debt-backed payouts soar ‘Dividend recapitalisations’ hit record rate as private equity owners take advantage of easy credit conditions British investment group 3i is set to receive a nearly €1.1bn windfall payout from Dutch retailer Action, the latest sign that private equity owners are taking advantage of easy credit conditions to fund bumper shareholder paydays. The debt deal will mark one of Europe’s largest so-called “dividend recapitalisations” of recent years. Private equity firms and other shareholders have been able to carry out these dividend recaps of their portfolio companies at a record rate this year thanks to plentiful demand for riskier debt from investors such as collateralised loan obligations. This has pushed down junk loan spreads — the extra borrowing cost over government debt — to their lowest level since 2018. Buyout groups “are finding it much more difficult to exit their investments but they still need to get a return and they still need to return money to [investors],” said Jeanine Arnold, senior vice-president of leverage finance Emea at Moody’s Ratings. “One of the ways they’re doing this is with dividend recaps.” The deal also helps cement the status of 3i’s acquisition of Action as one of the most successful leveraged buyouts ever. https://lnkd.in/g98WFvpi

Lion CG Corp (TSX-V:LEO, OTCQB:LCGMF) announced that it is proposing to carry out a debt restructuring transaction whereby it is offering to holders of its convertible debentures due in 2024 the option to replace the debentures with accrued interest with new convertible debentures or for shares. The company said that in June and July of 2022, it issued 14% unsecured existing debentures with an aggregate principal amount of US$2 million and 29,850,738 detached warrants. In March of 2023, it also issued 14% unsecured existing debentures with an aggregate principal amount of US$1,306,172 and 18,461,015 detached warrants with these debentures. The existing debentures were originally issued with a maturity date of 20 months from the date of issuance, and the detached warrants expire on the maturity date. More at #Proactive #ProactiveInvestors http://ow.ly/WzJQ105h7SJ #TSXV #OTCQB #LEO #LCGMF

Growthpoint Properties has published its unaudited interim results for the six months ended December 2023 with distributions of R2 billion – a half-year dividend of 58.80c, 8.6% down from HY2023 and based on a payout ratio of 82.5% of distributable income of R2.4 billion. The REIT retained R422.5 million before tax to fund capex and developments, together with the proceeds from property disposals: https://bit.ly/43d81Hd #growthpoint #realestatenews #shareholders #reit #listedcompanies #propertyfund #commercialrealestate #landlords #investorrelations #realestateinvestment #propertyowners #propertydevelopment #propertynews #assetmanagement #businessnews #JSE

Fixed income deals seen driving capital market activity, consultants and analysts tell LatinFinance #bonds #Brazil #merge #adquisition #capitalmarkets Alexandre Pierantoni Kroll BTG Pactual Nexa Resources Felipe Thut Bradesco BBI CEMEC - Centro de Estudos de Mercado de Capitais BNDES

LPX50 constituent company, HgT has announced the results for the quarter ended March 31, 2024. HgT is the largest client of its manager, Hg, and offers investors a liquid investment vehicle to gain exposure to Hg’s diversified network of unquoted investments. 🔷 Link to official press release 👉 https://lnkd.in/d9ztBaT3 🔷 Subscribe to Listed Private Equity Barometer published by LPX AG 👉 https://lnkd.in/ex-E8nej   Disclaimer: This content is provided for informational purposes and none of the content here should be construed as financial advice or an offer or solicitation for securities. The content is not intended to provide a sufficient basis on which to make an investment decision. The past performance is not indicative of future results.   #privateequity #alternativeinvestments #infrastructure #privatemarkets #investments #listedprivateequity #privatedebt #privatecredit #funds #loans

A debt initial public offering (IPO) provides a viable alternative to the challenging traditional equity IPO to gain access to public markets for growth capital. For the right company at the right time under the right circumstances, it might make sense. Read the entire Olshan Frome Wolosky LLP Securities Law blog post, "I’ve been thinking: Debt IPOs?," authored by partner Spencer Feldman #OlshanLaw #IPOs #CorporateLaw #SecuritiesLaw https://lnkd.in/erP6Rcjz

Private credit investment is gaining in popularity in Australia with returns sitting above 10 per cent for senior secured debt. Tanarra Credit Partners expects robust growth in this asset class over the remainder of 2024 with potentially greater merger and acquisitions activity (M&A) pushing businesses to seek private credit funding while investors seek lower volatility. Investors too are realising the benefits of this fixed-income asset class given less volatility compared to publicly traded corporate bonds, according to Tanarra managing partner, Peter Szekely. Read more on Tanarra's outlook for this asset class in AdviserVoice Pty Limited. #privatedebt #marketoutlook #mergersandacquisitions #privatecredit

Dividend recaps have been a hot topic for the last 12 months. As you've seen me mention, sponsors are eager to return capital to LPs (DPI!), but the exit environment has been muted. The tried and true dividend recap has been a good alternative. Lenders are (rightfully so) focused on sustainable leverage at the portfolio company, particularly when a sponsor is taking out 100% of their cash equity. #privatecredit #privateequity https://lnkd.in/ewYcbXkT

NEW: ALKEGEN is nearing a $2bn debt deal with the help of Oak Hill Advisors, L.P. and Apollo Global Management, Inc.. More details on the new deal now available for subscribers on 9fin. If you want access to this and more on what's happening in the private credit and distressed market, contact subscriptions@9fin.com for more information. The latest with Rachel Butt and Bill Weisbrod: #privatecredit #privatedebt #distresseddebt