Edelweiss, Allianz, Alpha among 8 lenders in talks to fund Hinduja's RCap acquisition
Top highlights of the week driven by REDD's recognised team of journalists and analysts.
Highlights of the week:
REDD ASIA: Edelweiss, Allianz, Alpha among 8 lenders in talks to fund Hinduja's RCap acquisition
REDD ASIA broke news on 18 July that private credit funds including Edelweiss Alternative Asset Advisors, Allianz Global Investors, 360 One and Alpha Alternatives were among lenders in talks with the Hinduja Group to fund its INR 100.5bn (USD 1.2bn) acquisition of Reliance Capital.
Our news scoop contained exclusive details of the proposed structure and pricing for the deal, which is currently one of the largest private credit opportunities in India. If concluded, the deal will help resolve a high-profile central-bank initiated insolvency at Reliance Capital.
REDD actively tracks India’s private credit, distressed debt and insolvency spaces. Our reporters tap a vast network of sources to deliver detailed scoops containing hard-to-find information on the nuts and bolts of deal structures.
REDD LATAM: IPOs dry up in Brazil, while NYC listing available only to select few
Brazilian companies looking for funding are having a hard time debuting on the Brazilian stock market. Even listed corporates in need for financing tapping the equity market making sure there are anchor investors to help with the offer, which is the case of Eneva. But for some companies, such as Cosan, which is trying to list different subsidiaries, a listing in the US could be an alternative.
REDD CEEMEA: Private credit in the Middle East is here to stay
In the latest REDD Insight, CEEMEA’s Merle Crichton investigates what is behind the recent arrival of private credit in the Middle East, and how it squares against the region’s strong syndicate market.
Although private credit still represents a negligible fraction of the total syndicate market size in the Middle East, the region has been the most active in CEEMEA in terms of private credit growth.
State-owned funds in the Gulf are one of the driving forces behind today’s USD 1.7tn global private credit market, and some of the world’s largest alternative asset managers have rushed to launch PC funds in the region over the last year.
Local financial regulators introducing changes that make the region more attractive for international PC market players has been one of the key factors for the PC take-off in the Middle East, REDD writes.
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