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Europe

The battle to buy a football league: Private equity contest for Italy’s Serie A (Scoreboard/FT)

July 30, 2020 | File Under: , , , , ,

“The growth plans of the football league’s new president Paolo Dal Pino are attracting bidders over a multibillion-euro deal.” – by Samuel Agini, Murad Ahmed et al.

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The Appeal Of Investing In Banks Is Very Strong (The Corner)

June 23, 2020 | File Under: , , , ,

“If we assume there will be no break-up of the euro, and that banks will not need significant capital hikes, the appetite for investment is very strong. Average revaluation expectations are close to 100% within a 1-2 year period.” – by Ofelia Marín-Lozano

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A new credit cycle ushers in fresh class of European NPLs (GlobalCapital)

“Just when it looked as though the European NPL tide was at last beginning to fall, 14 years on from the start of the great financial crisis, a new surge of NPLs is on the horizon.  It’s time to launch the securitization lifeboats.” – by Tom Brown

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First European CLOs Fail Key Test Amid Strain of Pandemic Impact (Bloomberg)

June 23, 2020 | File Under: , , ,

“Cracks have appeared in the defenses of European collateralized loan obligations for the first time since the last financial crisis as portfolios buckle under the strain of the coronavirus pandemic.” – by Sarah Husband

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European investors’ appetite for risk growing (Pension & Investments)

June 16, 2020 | File Under: , , , , ,

“As European countries are easing travel restrictions and governments and central banks have stepped up monetary and fiscal support, investors are looking for opportunities to take on more risk.” – by Paulina Pielichata

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Spain breaks euro zone demand record with new 10-year bond (Reuters)

April 23, 2020 | File Under: , ,

“Spain, like other euro zone sovereigns which have used syndications, is paying up to attract investors to its debt. Spain is paying a premium of around 12 basis points to its outstanding bonds, similar to Italy a day earlier.” by Yoruk Bahceli

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Government Ownership in the Post Virus World (Harvard Law School Forum on Corporate Governance)

“Faced with a choice of lending to or investing in failing national champions, a number of governments have opted for the latter, nationalizing airlines, hospitals, automotive firms and other ‘crown jewels’.” – by Alissa Kole Amico

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This pandemic is redrawing the global investment landscape (International Investment)

April 4, 2020 | File Under: , , , ,

“Covid-19 expected to trigger a massive plunge in foreign direct investment and reinforce protectionist policies among leading recipients.” – by Yigal Chazan

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Investing in Europe in 2020 – The Year Ahead

An overview of some European key themes and political risks for 2020

2020 brings with it the 10th year of recovery since the global financial crisis. Equity markets continue to break records, ample credit is available, yet the bullish performance appears cosmetic at times and investing in Europe in 2020 is fraught with political risks.  The US deficit doubled from $385bn to $779bn last year, the UK […]

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CLO market: Corporate distress? Bring it on (Euromoney)

December 18, 2019 | File Under: , , , ,

“Ask any market participant where they think that the next crisis is coming from and their answer will almost always be corporate credit.  We have been watching the market very closely and have seen degradation in investment grade. BBB is the new A.” – by Louise Bowman

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