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Directory secures Europe's first cov-lite Covenant-lite loans are set to make their debut in Europe. JP Morgan will raise the continent's first cov-lite package, for media company VNU World Directories.

Betting on a bust: loan CDS market to eclipse CLOs A US public loan-only credit default swap (LCDS) index could be in place by May.

Insider advice for sellers

Why London missed out on the hedge funds

Equity The listing of Samling Global, a Malaysian forest resource and wood products company, has raised HK$2.18 billion ($280 million). It is hoped that the transaction will start a trend of smaller Asian countries listing in Hong Kong. "We see the Samling IPO as further confirmation of Hong Kong's standing in Asian capital markets," said Tommy Tong, corporate partner at Herbert Smith. "Over the past few years mainland issues have tended to dominate the headlines. We expect to see an increasing number of IPOs from countries like Malaysia that are keen to access the liquidity and participate in a very active market."

French private equity gets political

Japanese accountancy undermines itself

Investors in the UAE should be aware that Federal Law 17 of 2004 on the Combating of Commercial Concealment comes into effect from November this year. This law seeks to end what is currently a very common method by which overseas investors seek to conduct their business in the UAE.

The new Slovenian Public-Private Partnership Act entered into force on March 7 2007. The new Act systematically regulates the system in which government services and private business ventures are funded and operated through a partnership between government and one or more private sector companies. The Act implements Directive 2004/18/EC on the coordination of procedures for the award of public works contracts, public supply contracts and public service contracts and next to "construction works concessions" regulates also "service concession", which is entirely excluded from EC secondary legislation.

As of February 1 2007, an amendment of the Slovak Commercial Code, published in the collections of laws under number 19/2007, came into force. The amendment: (i) tightens the obligations of companies with respect to their company seats, (ii) regulates the voluntary publication of data and deeds in languages other than the Slovak language with respect to third parties, (iii) relates to entrepreneurs who offer their goods or services on the internet, and (iv) stipulates some changes with respect to joint stock companies.