Latest News

  • Permira adds glimmer of hope to sullen investors

    Permira has added to its recent shopping basket of acquisitions with the purchase of German online retailer Schustermann & Borenstein from Ardian.

    • 04:00 PM
  • IG and HY deals pour in despite investor concerns

    After weeks of caution and defensive trades, with tentative order books to match, the euro corporate bond market has swung back to notch a jumbo trade among its deal count. Meanwhile the loan market continues to search for a sane medium between leveraged loans' buying hysteria and investment grade’s catatonic summer.

    • 12:00 PM
  • Shangri-La squeezes pricing with $130m refinancing

    Shangri-La Asia Treasury is seeking retail participants for a $130m borrowing that will refinance existing debt. A single European bank is helming the trade.

    • 11:30 AM
  • Ardian appoints co-head of private debt

    French private equity firm Ardian has appointed a new co-head of its private debt division, as it prepares for big things from the sector.

    • 25 Oct 2016
  • Investcorp buys 3i Debt Management, Tikehau snaps up Lyxor UK funds

    3i has sold its debt management business to Bahrain-based private equity firm Investcorp as the UK firm focuses on its infrastructure and private equity businesses, while Tikehau Capital will boost its CLO business with the acquisition of Lyxor’s €700m European debt funds.

    • 25 Oct 2016
  • Euro Garages drives wide on sterling offering

    Euro Garages has widened the discount on its £250m term loan ‘C’ to 97.5, with prospects for sterling issuance less clear following Daisy’s pulled deal last week.

    • 25 Oct 2016
  • Full marks for Infinitas on refi pricing

    B2 rated Infinitas priced on Tuesday its €380m term loan ‘B’ refinancing at the lower end of the guidance having first signed the deal just eight months ago.

    • 25 Oct 2016
  • Wind Hellas adds Greek flavour to HY feast

    Greek telecommunications firm Wind Hellas joined the spate of European high yield issuance on Tuesday with a roadshow for €250m of notes, the third Greek high yield offering since mid-September.

    • 25 Oct 2016
  • Lippo builds first 10 year with strong demand

    Indonesian property developer Lippo Karawaci excited investors on Monday with its roll out of a longer tenor, high yield bond.

    • 25 Oct 2016
  • Compliance: Not the friend you want but one you need

    One month from the US regulator fining the New York unit of Mega International Commercial Bank, Taiwanese lenders are feeling the pressure and facing an unprecedented level of scrutiny on their existing loan books. But the extra paperwork should be viewed as a minor inconvenience with long-term benefits.

    • 25 Oct 2016
  • Air India takes off for $69m syndication

    Air India is tapping the syndicated loan market to refinance a $69.065m aircraft purchase facility. The carrier, which reported its first operating profit in a decade in the 2016 fiscal year, is relying on a guarantee from the government to reel in demand.

    • 25 Oct 2016
  • Macro factors drive US CLOs tighter, but technical concerns linger

    Spreads on US CLOs are grinding ever tighter, though rather than improving sector specific fundamentals, observers say that tighter pricing is being determined by broad issues driving investors to the sector.

    • 24 Oct 2016
  • DomusVi taps 2014s again as Spanish buyout list grows

    French private care home operator DomusVi on Monday joined a busy high yield pipeline with a €322m add-on to its debut bond to fund its second acquisition in Spain.

    • 24 Oct 2016
  • BMI adds loans to levfin sterling activity

    BMI Healthcare, the operating arm of General Healthcare Group, added a loan package to tje run of sterling issuance in the European leveraged finance market of late.

    • 24 Oct 2016
  • Snai leads euro high yield refi wave

    Three high yield borrowers on Monday announced refinancing deals in euros with roadshows starting this week — the first to meet with investors is Sindicato Nazionale Agenzie Ippiche, the Italian gaming company.

    • 24 Oct 2016
  • Sterling high yield pipeline reopens despite Daisy’s fail

    Enterprise Inn, the UK pub group, on Monday began marketing a new sterling refinancing offering amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.

    • 24 Oct 2016
  • Ion Trading taps loan after another acquisition

    Electronic trading firm Ion Trading has tapped its term loan signed in August by subsidiary Wall Street Systems, as the latter acquires fellow fintech firm Reval. While Vistra and Azelis tap deals.

    • 24 Oct 2016
  • BNPP seeks bigger private equity wallet share with senior hire

    BNP Paribas is hoping to win more business from private equity firms across its product lines, following the appointment of James Seagrave as global head of financial sponsors.

    • 24 Oct 2016
  • Lippo to push back maturity profile with new bond

    Indonesian property developer Lippo Karawaci is continuing its efforts to push out its debt maturity profile with a new 10 non call five bond.

    • 24 Oct 2016
  • JP Morgan names new head of Emea DCM

    JP Morgan has chosen a new head of debt capital markets in Emea, as part of a wider reshuffle designed to promote a new generation of bankers to top jobs.

    • 21 Oct 2016
  • Cogobuy unit boosts debut loan to $194.5m

    A unit of e-commerce platform Cogobuy Group has close to doubled the size of its debut syndicated loan to $194.5m following an oversubscription from nine banks.

    • 21 Oct 2016
  • Dial flies high on the back of Saudi success

    Delhi International Airport’s decision to launch its bond a month after wrapping up roadshows paid off, with the new 10 year cinching global interest and a more than 6.5x covered book.

    • 21 Oct 2016
  • CLO, CMBS markets test multiple approaches to risk retention

    As the US CLO and CMBS markets debate the viability of horizontal versus vertical risk retention, the market is quietly discussing a third solution to this year’s favourite fixed-income conundrum.

    • 20 Oct 2016
  • Loans, news in brief — October 20, 2016

    Valmet — Segro — Ecom — Aluminium Bahrain — Morpho

    • 20 Oct 2016
  • Inovyn in vogue but M&A could enjoy autumn

    Ineos-owned chlorvinyls firm Inovyn increased and tightened the size and guidance on its term loan ‘B’ repricing on Thursday afternoon, as the market hopes for some overdue buyout activity.

    • 20 Oct 2016

More Leveraged Finance

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Oct 2016
1 UniCredit 15,780.75 62 10.56%
2 JPMorgan 12,594.51 30 8.43%
3 HSBC 12,277.00 39 8.22%
4 BNP Paribas 9,321.96 66 6.24%
5 Credit Suisse 9,123.47 18 6.11%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 25 Oct 2016
1 Deutsche Bank 6,837.39 41 10.34%
2 Citi 6,260.32 20 9.47%
3 Goldman Sachs 5,607.49 32 8.48%
4 Barclays 5,062.99 27 7.66%
5 JPMorgan 3,571.74 29 5.40%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Oct 2016
1 JPMorgan 24,113.94 189 10.95%
2 Bank of America Merrill Lynch 21,185.25 153 9.62%
3 Goldman Sachs 19,086.62 124 8.67%
4 Barclays 18,642.87 119 8.47%
5 Citi 18,556.09 137 8.43%