trending Market Intelligence /marketintelligence/en/news-insights/trending/LdnWMMCnZEwb8_g3w-WsTw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Private equity firms turning to riskier funding tool for Australia deals

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Private equity firms turning to riskier funding tool for Australia deals

Australia is becoming a testing ground in Asia-Pacific for a relatively new private equity funding tool that provides more flexible terms, Bloomberg News reported Oct. 13.

Private equity firms, including KKR & Co. LP, TPG Capital Asia and Carlyle Group LP have used unitranche loans, which combine senior and subordinated parts of leveraged transactions, to finance acquisitions. This allows deals to be done faster as nonbank lenders put up the funds for unitranche debt and there is no need to negotiate separate senior and junior facilities.

However, this lack of separation could complicate matters should disputes arise in a bankruptcy situation.

There have been at least four deals in Australia financed this way in 2017, the news outlet noted, adding that the unitranche structure is already popular in the U.S. and Europe. There is growing interest in Australia for such debt as it provides more gearing and longer tenors, said Simon Beissel, head of corporate and acquisition finance at Investec Australia Ltd.

Australia is drawing investors after having gone 26 years without a recession, Bloomberg reported. At the same time, with banks everywhere facing stricter capital requirements, private equity firms are increasingly looking to institutional investors for leveraged funding.