Commercial property prices in Britain have fallen by 40% from their peak, however the office market felt the most pain with rents falling by 1.74% in February – three times greater than any other sector. The pace of decline in capital values though eased slightly.
2 min read · 08 February 2013
The London-based firm is set to take up to an 18% stake in the clothing retailer by buying a portion of the company’s second lien debt. The debt is held by a fund associated with computer billionaire Michael Dell.
2 min read · 08 February 2013
The US credit assistance program for infrastructure will award financing to projects based on a competitive, fixed-date solicitation process, TIFIA Director Mark Sullivan told delegates gathered at the Public-Private Partnerships USA Summit in Washington DC.
3 min read · 08 February 2013
The UK-listed private equity frim is reportedly considering a move into investing in debt instruments. Other firms which have recently moved to take advantage of credit opportunities include Providence Equity Partners and BC Partners.
1 min read · 08 February 2013
The UK’s secretary of state for business, Peter Mandelson, last night urged BVCA members to help drive UK economic growth by backing entrepreneurial start-ups and growing SMEs ‘into world beaters’. He also addressed the industry’s efforts to battle negative public perception, noting it had surpassed its ‘pain threshold’.
2 min read · 08 February 2013
Four minority shareholders in the Spanish toll road operator argue that tendering their shares to majority owner Ferrovial in a stock swap would give them exposure to unwanted businesses, geographies and risks. Analysts say the buyout would help the Spanish infrastructure manager strengthen its cash position amid ongoing deleveraging efforts.
4 min read · 08 February 2013
The buyout industry has been incapable of ‘using leverage sensibly’ and must support restrictions on excess LBO debt, argued Hugh MacArthur, global head of Bain & Co’s private equity practice.
2 min read · 08 February 2013
The buyout industry has been incapable of ‘using leverage sensibly’ and must support restrictions on excess LBO debt, argued Hugh MacArthur, global head of Bain & Co’s private equity practice. He was joined at PEI's Middle East Forum by Delta Private Equity's Patricia Cloherty, who noted ‘cheap debt is simply seductive, and everyone is complicit on the upside’.
2 min read · 08 February 2013
The US radio and advertising company, which was purchased by Bain Capital Partners and TH Lee last year in a $17.9bn deal, had its rating fall to deeply speculative territory, with Moody’s warning of default.
2 min read · 08 February 2013
TPG’s objection comes after Babson Capital and GSC said the proposed bankruptcy financing is unfair to first-lien lenders who do not participate in the financing package.
2 min read · 08 February 2013
