• Sinochem unit makes slick exit with bigger $270m facility

    Sinochem Hongrun Petrochemical, a crude oil refiner affiliated to Sinochem Group, has increased ts debut international borrowing to $270m from $110m.

    • 05:30 AM
  • Trio prep loan for Partners’ acquisition of SPi

    Private equity firm Partners Group has lined up financing from three lenders to back its acquisition of business process outsourcing company SPi Global.

    • 26 May 2017
  • Melco Resorts Finance finds strong US support

    Melco Resorts Finance on Thursday sold a tightly priced eight year non call three bond to refinance its outstanding 2021s, with its deal over 2x subscribed.

    • 26 May 2017
  • First commitments in for Mu Sigma $400m financing

    A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from two banks. The leads on the loan had invited lenders to join as sub-underwriters in March.

    • 26 May 2017
  • APL snaps up $300m from record inaugural trade

    Indonesia’s Agung Podomoro Land (APL) priced its maiden offshore bond on Thursday, achieving a number of firsts thanks to its leading position in the country’s property market and its strong financials.

    • 26 May 2017
  • Melita-Vodafone Malta tie up to bring €360m of debt

    Apax Partners and Fortino Capital have mandated banks for a €360m debt package to finance the merger of Maltese telecom firm Melita and Vodafone Malta.

    • 26 May 2017
  • Dr Peng connects with investors on rarity value

    Dr Peng Telecom & Media on Thursday sealed its debut bond, raising $500m from a three year that was over 5x covered. Enthusiastic accounts in Asia and Europe piled in to the deal, enabling the lead to slash pricing by a hefty 45bp.

    • 26 May 2017
  • VietinBank makes quick comeback with $100m facility

    VietinBank, one of the largest state-owned commercial lenders in Vietnam, has returned to the loan market for a fresh money borrowing, just four months after tying up its last fundraising.

    • 26 May 2017
  • HY looks to Lindorff billions but supply to stay limited

    The euro high yield market was dining on small portions this week, and there's little prospect of a sustained return to high volumes — despite the two chunky deals expected soon.

    • 25 May 2017
  • Japanese big hitter steps into US middle market CLOs

    Japan's Norinchukin Bank is understood to have invested in US middle market CLOs for the first time, the latest chapter in the evolution of the bank’s CLO investing strategy, writes David Bell. It accompanies a growing surge of liquidity in middle market lending in what could be a breakout year for the sector.

    • 25 May 2017
  • Towergate tailors high yield deal to morph into Kirs

    A group of private equity firms have joined forces to merge UK insurance broker Towergate and four peers into a new industry player called Kirs, and this week launched a £800m bond to back the move.

    • 25 May 2017
  • Ineos to use some bank debt for Dong acquisition

    Ineos is likely to use some bank debt for its $1bn acquisition of Dong Energy’s upstream North Sea oil and gas business, and is also engaging in a $250m vendor loan note provided by Dong.

    • 25 May 2017
  • Hensoldt appears on levloan radar as market heats up again

    Hensoldt, the KKR-owned defence electronics firm, held a lender call on Wednesday morning for a €170m incremental term loan, following its acquisition of avionics business EuroAvionics. The deal comes as some investors are concerned the leveraged loan market could return to the extreme conditions of earlier in the year.

    • 25 May 2017
  • Four vie for dollar investor attention

    The Asia ex-Japan G3 bond market saw a slew of issuers from a variety of backgrounds hit the market on Thursday, with borrowers from Greater China as well as Indonesia venturing offshore.

    • 25 May 2017
  • Risk retention rules spawn third party growth, engineering

    Risk retention sponsors are hiring third party firms to help accurately value their horizontal strips of US CLO equity, although the growth of bank financing is also encouraging more managers to adopt the vertical approach to the regulation.

    • 24 May 2017
  • PortAventura lines up €620m refi and div recap loan

    PortAventura, the Spanish theme park operator, has scheduled a bank meeting for Thursday morning in London for a €620m seven year term loan ‘B’ refinancing and dividend recapitalisation.

    • 24 May 2017
  • Long investor queues for Heathrow’s HY deal

    UK airport Heathrow landed orders for more than five times its £250m offering on Wednesday, in a week with less than €500m of new paper in sterling and euros in the high yield bond market.

    • 24 May 2017
  • The winners: GlobalCapital High Yield Bond Awards 2017

    GlobalCapital is delighted to announce the winners of its High Yield Bond Awards for 2017. The results were revealed at a gala dinner at London's Globe Theatre on May 23. Thank you to everyone who supported the event by attending and voting in the polls that decided who were the best and brightest in bonds over the last 12 months.

    • 24 May 2017
  • Park Square Capital poaches Goldman levfin director

    Park Square Capital has hired an executive director from Goldman Sachs into its direct lending team, as well as promoting three partners from within, as it builds out its private debt business.

    • 24 May 2017
  • Triple-Bs dominate in tight corporate bond market

    Corporate borrowers hit the bond market early this week before Thursday’s Ascension Day holiday on the continent, and bankers expect issuance to drop off sharply in the coming days.

    • 24 May 2017
  • Six climb onboard NavInfo €110m acquisition loan

    Chinese digital map provider NavInfo has signed a €110m loan to fund its acquisition of a stake in a European company.

    • 24 May 2017
  • Levfin veteran Hsu tipped for senior role at StanChart

    Lyndon Hsu, the former Asia Pacific leveraged and acquisition finance head at HSBC, is heading to Standard Chartered to lead its levfin business.

    • 24 May 2017
  • The winners: GlobalCapital Bond Awards 2017

    GlobalCapital is delighted to announce the winners of its Bond Awards for 2017. The results were revealed at a gala dinner at London's Globe Theatre on May 23. Thank you to everyone who supported the event by attending and voting in the polls that decided who were the best and brightest in bonds over the last 12 months.

    • 24 May 2017
  • Muzinich flexes private debt muscle in hot mart

    US investment house Muzinich sealed the first closing of its new pan-European private debt fund on Tuesday, amid a widespread rise in interest in the asset class.

    • 23 May 2017
  • Kershaw returns with non-exec role

    ICG’s previous head of credit fund management Dagmar Kent Kershaw has taken a new role in the investment sector, following a sabbatical after leaving ICG last June.

    • 23 May 2017
  • Avaloq, Element release price guidance as Verallia hits 300bp

    Swiss fintech firm Avaloq released price guidance on its Sfr410m-equivalent of euro loans this week in a deal backing Warburg Pincus’s minority investment at a valuation of over Sfr1bn. It follows French packaging firm Verllia’s repricing of its €1.375bn term loan down to 300bp on Monday.

    • 23 May 2017
  • Douglas puts €300m term loan in shop window

    CVC owned Douglas, the German retailer, held a lender call on Wednesday for a €300m incremental term loan, backing its acquisition of Leading Luxury Group, the Italian beauty chain.

    • 23 May 2017
  • Hobbs appointed Asia managing partner at Linklaters

    Law firm Linklaters has appointed cross-border leveraged finance specialist Nathalie Hobbs its regional managing partner for Asia.

    • 23 May 2017
  • Commodities trader ETG hunts for $100m

    African agriculture conglomerate Export Trading Group (ETG) has approached the loan market for a borrowing of up to $100m.

    • 23 May 2017
  • Home Credit eyes Asian liquidity for €500m

    International consumer finance company Home Credit Group is syndicating a slice of its €500m fundraising to Asian banks.

    • 23 May 2017
  • Beijing Gas, CCB HK woo buy-side for new deals

    Beijing Gas Group Company and China Construction Bank (Hong Kong) have opened books for a fixed five year bullet and a three year floater, respectively.

    • 23 May 2017
  • Interest rates hike could rekindle HY issuance surge, say bankers

    The euro high yield market will be dining on small portions this week, far from the recovery in bond issuance volumes of the past four months but indicative of times ahead, bankers and analysts agreed — that is, unless the European Central Bank increases short term interest rates.

    • 22 May 2017
  • Issuers crowd European CLO primary pipeline

    A flood of European CLO paper washed through the primary pipeline in the past week, with issuers across asset classes flipping the switch following a lull in the wider euro ABS market.

    • 22 May 2017
  • Tikehau lends Terratest €60m unitranche facility

    Spanish geotechnical engineering firm Terratest has signed a €60m unitranche deal with Tikehau IM, as it looks to complete its restructuring following its acquisition by Platinum Equity in 2014.

    • 22 May 2017
  • JP Morgan rolls out HY fund for UK pension scheme

    Nest, the UK national employment savings trust, has become the latest in “a flurry” of buyers to move into high yield bonds.

    • 22 May 2017
  • JP Morgan appoints levfin MD following departures

    JP Morgan has appointed a new managing director in its EMEA leveraged finance capital markets team, following the departure of two senior members in the last month.

    • 22 May 2017
  • Hong Yang announces debut, Dr Peng sounds out investors

    Property developer Hong Yang Group Company is marketing its inaugural international bond, while Chinese private telecommunications operator Dr Peng Telecom & Media Group Co is set to hold a conference call with investors on Tuesday for a dollar deal.

    • 22 May 2017
  • Ex-Westpac banker to helm ANZ Oz loan syndications

    ANZ has named Gavin Chappell as the head of loan syndications for Australia, poaching him from Westpac.

    • 22 May 2017
  • Avaloq launches loans for Warburg investment

    Avaloq, a Swiss fintech firm, has launched Sfr410m-equivalent of loan facilities, backing Warburg Pincus’s 35% investment in it, which values it at over Sfr1bn.

    • 19 May 2017
  • Burford collars £175m retail bond in shrunken market

    Burford Capital, the company that finances litigation, raised £175m with a bond issue on the London Stock Exchange’s Orderbook for Retail Bonds on Friday – one of the biggest deals since 2012.

    • 19 May 2017
  • Premier Foods pays 2017's third biggest margin for new floater

    After three years away, UK producer of grocery and sweets Premier Foods returned to the bond market with a £210m fiver year non-call one floater to join 2017’s sterling issuance comeback.

    • 19 May 2017
  • Transportation Partners, ChemChina on the road

    Transportation Partners and China National Chemical Corp will meet fixed income accounts for their respective dollar bonds, while names like Poly Culture Group Corp, Macrolink Culturaltainment Development Co, Oceanwide Holdings Co and Jiangxi Ganfeng Lithium Co are planning to go offshore.

    • 19 May 2017
  • Xiaomi dials for $1bn refi with two at the helm

    Chinese mobile phone maker Xiaomi, which sounded out lenders to refinance a syndicated loan raised in 2014, has sent out terms for the new facility to retail banks.

    • 19 May 2017
  • Bull run can charge through Trump but not forever

    Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

    • 18 May 2017
  • Hotelbeds tucks in loan among refis

    Several notable event-driven new money leveraged loans are set to come to market next month, but for now there is only a steady flow of repricings and small incremental deals.

    • 18 May 2017
  • Liquidity surge in middle market lending drives CLO boom

    A flood of capital into the US middle market is fuelling a rise in CLO issuance, with the product also set to expand into Europe for the first time.

    • 18 May 2017
  • Douglas enjoys retail therapy with Italian beauty group

    CVC-owned German retailer Douglas has agreed to buy Limoni and La Gardenia Beauty, two Italian beauty and perfume firms from sponsor Orlando Management. It said on Thursday that it may issue new a term loan to fund the deal, joining a list of mid-cap firms with similar plans.

    • 18 May 2017
  • Euro pipeline fills up ahead of Barcelona ABS confab

    The European ABS market shifted to high gear this week, as market participants prepare to head off to Barcelona for Global ABS on June 6.

    • 18 May 2017
  • Iron Mountain tests HY’s appetite for US IT

    US cloud and physical data manager Iron Mountain’s €300m deal proved European investors can give US IT company debt a chance despite some troubled recent deals.

    • 18 May 2017
  • Leveraged issuers risk missing the chance to use best ever rates

    Conditions in Europe's leveraged finance market are arguably better than ever for issuers, with some measures of yields hitting historic lows. Many believe they cannot last. But try as they might, bankers cannot find enough issuers to bring deals, writes Max Bower.

    • 18 May 2017
  • Norwegian to market new euro bond tap

    Nordic low cost airline Norwegian Air Shuttle will meet investors about a tap of its only euro bond on Monday. This time, it also plans a new €370m deal in Norwegian kroner.

    • 18 May 2017
  • China banks poised for bigger share of M&A financing pie

    Chinese banks are set to take up a bigger market share when it comes to financing M&A in 2017, building on their dominant presence in the Asian loan market last year. The stage is set for more collaboration between Mainland and international banks, according to panellists speaking at a leveraged and acquisition finance conference in Hong Kong on Wednesday. Shruti Chaturvedi reports.

    • 18 May 2017
  • HSBC picks Wong to lead mid-market levfin buildout

    HSBC has promoted Sheldon Wong to head its Middle Market Financial Sponsors (MMFS) team in Asia Pacific, a segment tipped to grow alongside the region’s increasing M&A volumes.

    • 18 May 2017
  • HY newcomer K+S squeezes tap in stuffed IG mart

    German mining firm K+S issued in the bond market for the second time in the past six weeks on Wednesday, in investment grade style despite its October downgrade into high yield ratings.

    • 17 May 2017
  • Apple joins riot of issuers in corporate bond market

    The European corporate bond market is again packed to bursting on Wednesday, with six new issues, among which Apple is likely to be one of the most sought after names. This week is building up to a huge total, as LVMH has already raised €4.5bn and Anheuser-Busch InBev £2.25bn.

    • 17 May 2017
  • Logan Property goes low with tightly priced bond

    Logan Property raised a $450m bond on Tuesday, achieving its lowest yield in the international debt market. The lack of high yield paper from Chinese real estate developers and the company’s strong profitability helped drum up demand.

    • 17 May 2017
  • VPBank Finance hikes to $150m with 10

    VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has raised the size of its syndicated loan to $150m. The deal was initially signed at $100m late last year, with the amount now increased after more banks came in.

    • 17 May 2017
  • Investors back Euronav’s escape from tanker dive

    Euronav, the unrated Belgian oil tanker group, made its debut in the bond market on Tuesday after a second consecutive year of profits in a declining industry.

    • 16 May 2017
  • Barclays lays out capital markets leadership, Brown to leave syndicate

    Following the new structure announced in Barclays banking and markets business last week, JF Astier, who now heads capital markets, has laid out the senior leadership of the business, and Jonathan Brown, co-head of IG syndicate, has moved to a new job.

    • 16 May 2017
  • ECB publishes final leveraged lending guidelines

    The European Central Bank published its final guidelines on leveraged lending on Tuesday, clarifying issues that arose during the consultation period beginning in September. The guidelines are set to be implemented later this year.

    • 16 May 2017
  • Burford to boost retail bond market with 5% deal

    Litigation finance house Burford Capital is set to become this year’s second issuer on the London Stock Exchange’s Order book for Retail Bonds (Orb).

    • 16 May 2017
  • Secondary loan market: No more playing second fiddle

    Slower primary issuance in Asia’s syndicated loan market has spurred retail lenders to look for opportunities in secondary — a challenge considering the market is severely underdeveloped. But this is all the more reason for bankers to cultivate a deeper and more expansive market for secondary trading as the move would provide plenty of benefits.

    • 16 May 2017
  • Melco, Hong Yang, Soechi to roadshow for $ bonds

    Melco Resorts Finance is set to go on a global roadshow for an eight year bond to redeem its outstanding 2021s, as China’s Hong Yang Group Company and Indonesia’s Soechi Lines also prepare investors for new deals.

    • 16 May 2017
  • Triple whammy: Three dollar deals hit Asian market

    Korea Water Resources Corp as well as developers Sun Hung Kai Properties and Logan Property Holdings launched new dollar deals on Tuesday morning.

    • 16 May 2017
  • Atlantica Yield leaves Abengoa past with rating upgrade

    Abengoa’s yieldco spinoff, Atlantica Yield, took a step further from its troubled Spanish major shareholder on Monday, having received its first double-B rating from Standard & Poor’s.

    • 15 May 2017
  • Moody's buys €3bn Bureau van Dijk from EQT

    Moody’s has bought Bureau van Dijk, the Dutch business intelligence firm, from EQT for €3bn, and is set to finance the deal with offshore cash and new debt.

    • 15 May 2017
  • Verallia returns with loan price cut request, five months after last one

    Verallia, the French bottle maker, requested a repricing of its €1.375bn term loan ‘B’ this week, having repriced it only in December.

    • 15 May 2017
  • CNH brings first euro deal since Macron win

    The European subsidiary of CNH, the US agricultural machinery company formerly called Case New Holland, launched a benchmark euro high yield bond on Monday, as yields in the market hit new all-time lows.

    • 15 May 2017
  • NHAI whips up Rp30bn from debut Masala

    National Highways Authority of India grabbed a Rp30bn ($465.88m) five year Masala bond on Thursday, despite the offshore rupee market not getting the enthusiasm that issuers want.

    • 12 May 2017
  • Sri Lanka seeks up to $1bn in general

    An up to $1bn facility for the Sri Lankan sovereign has hit general syndication, about three months after the borrower mandated six banks for the deal.

    • 12 May 2017
  • Hotelbeds seeks add-on amid refinancings deluge

    Hotelbeds held a lender call on Tuesday for a €325m term loan add-on, backing its carve-out of GTA from Kuoni Travel, amid market conditions ever propitious for refinancings.

    • 11 May 2017
  • Carlyle seeks cov-lite amendment

    Carlyle is attempting to get an amendment on a 2015 CLO, Carlyle Global Market Strategies Euro 2015-3, to raise the covenant-lite limits in the deal to 90% from 80%.

    • 11 May 2017
  • Rickmers risks sinking while shipping mends

    A recent improvement in the prices that shipping companies command may have come too late for bondholders of Rickmers, the 183 year-old Hamburg shipping company. They are set to endure losses as the borrower attempts to make it to 184.

    • 11 May 2017
  • Primary loan slowdown shifts focus to secondary

    Primary loan syndication activity dropped sharply in April, with many loans desks in Asia not receiving a single invitation for weeks on end. In the absence of flow in primary, many participating banks are increasingly looking at the secondary market to cope with the slowdown, writes Shruti Chaturvedi.

    • 11 May 2017
  • Pemberton hires another RBS levfin veteran for private debt

    Pemberton has hired a veteran leveraged finance banker as a new partner in its origination team, as it further builds out its private debt platform in Europe.

    • 11 May 2017
  • HSBC levfin banker jumps ship to BAML

    A Hong Kong-based banker in the Asia Pacific leveraged finance team of HSBC has resigned, and is understood to be heading to Bank of America Merrill Lynch, according to sources.

    • 11 May 2017
  • CK Property, Huachen Energy plunge into debt market

    Hong Kong developer Cheung Kong Property Holdings (CKP) and Chinese company Huachen Energy Co both opened books for new dollar deals on Thursday.

    • 11 May 2017
  • HPS prices debut European CLO

    HPS Investment Partners has priced its first-ever European CLO, the first new issue deal to be priced in May and the 13th of 2017.

    • 10 May 2017
  • Canada's PSP to expand European private debt and PE business

    PSP Investments, the Canadian pension investment manager, has expanded its operations with the launch of a European hub, and wants to invest increasingly in private debt and real estate.

    • 10 May 2017
  • Reverse Yankee HY pipeline thins with cosier US mart

    Eurobond offerings from US high yield borrowers may be harder to find in the second quarter of the year as pricing terms improve for US borrowers.

    • 10 May 2017
  • Corporate bond feeding frenzy gets going

    Europe’s corporate bond market lit up with new issues this week, signalling the beginning of what is expected to be a hectic period until June. General Electric, BMW and Repsol with the first green bond from a major oil company are among the host of deals and mandates filling screens.

    • 10 May 2017
  • Axis Bank promotes Hong Kong credit head

    The head of credit for Axis Bank in Hong Kong has been promoted, with the scope of his role widening following the bump up.

    • 10 May 2017
  • Xiaomi sounds out banks for 2014 loan refi

    Chinese mobile phone maker Xiaomi is sounding out lenders to refinance a $1bn dual tranche borrowing raised three years ago.

    • 10 May 2017
  • BSD, ICBC Sydney rustle up new notes

    Bumi Serpong Damai and ICBC Sydney jumped into the debt market on Tuesday, capitalising on the positive market sentiment following the French presidential election.

    • 10 May 2017
  • Details emerge on tranches for Vedanta $651m syndication

    A $651m facility for Vedanta Group will be split into two tranches, one for overseas lenders and the other helmed by Indian banks, according to a banker close to the deal.

    • 10 May 2017
  • Lindorff-Intrum merger to produce €5bn high yield deal

    The largest European high yield bond issue for a year is being prepared as Intrum Justitia and Lindorff, two Nordic debt collectors, ready to complete a merger.

    • 09 May 2017
  • No sign of Macron backlash against sterling as Saga debuts tightly

    Saga, the UK insurance company, priced its £250m bond almost almost 40bp inside initial price thoughts on Tuesday, in the European high yield market's first new issue since the French election, despite fears that a Macron win could be read as negative for the Brexiting UK.

    • 09 May 2017
  • JP Morgan levfin director leaves for credit fund

    Another director in JP Morgan’s leveraged finance team for EMEA has left the bank, a source confirmed on Tuesday, joining a credit fund in London.

    • 09 May 2017
  • Indonesia's BSD to add on to $200m bond

    Indonesian property developer Bumi Serpong Damai (BSD) is tapping its outstanding 2023s on Tuesday, launching the deal at the market open.

    • 09 May 2017
  • BOC gives Huishan Dairy a week to repay $50m loan

    Bank of China Macau has given China Huishan Dairy Holdings until next Tuesday, May 16, to repay a $50m loan raised in 2014 that matured in April.

    • 09 May 2017
  • Leoch International recharges with bigger $200m facility

    Leoch International Technology has wrapped up its syndicated fundraising at a larger size of $200m.

    • 09 May 2017
  • Banks meet over MAXpower $222m loan problems

    A default event has been declared on a $222m loan for Indonesian gas-to-power specialist MAXpower Group. The company first flagged up its financial problems over a year ago and had been speaking with lenders to rejig terms on the five year syndication sealed in 2015.

    • 09 May 2017
  • Macro backdrop lends mixed outlook to US CLO rally, say analysts

    Technical factors have driven US CLO spreads to record tight levels, and analysts have said there could be further room for the rally to run — though concerns around a falling oil price and reflation rate mean mezzanine tranches may have more limited potential for further tightening.

    • 08 May 2017
  • Ameos, Diaverum tee up bank meetings

    Hospital operator Ameos has scheduled a bank meeting for Wednesday morning for a €510m loan refinancing, as banks scramble for deals.

    • 08 May 2017
  • French banks refresh levfin trading desks

    BNP Paribas and Crédit Agricole have hired new head traders for their high yield bond business, according to sources on Monday.

    • 08 May 2017
  • Unifin, Capex could light up Lat Am HY this week

    Two high yield companies from Latin America will wrap up investor meetings on Tuesday ahead of planned dollar-denominated bond issues.

    • 08 May 2017
  • ‘Macron euphoria’ round the euro HY corner

    The pipeline for new deals in the euro high yield bond market appeared all but empty this week, but bankers said Sunday’s French presidential election win for Emmanuel Macron would stoke a surge of offerings.

    • 08 May 2017
  • Bangur to helm FAB's Apac corporate finance team

    Anand Bangur has been named head of the Asia Pacific corporate finance division at First Abu Dhabi Bank (FAB), the entity born from the merger of First Gulf Bank and National Bank of Abu Dhabi.

    • 08 May 2017
  • Indonesia’s PLN lights up market with dual trancher

    Investors have a chance to buy bonds from Indonesian government-owned electricity distributor Perusahaan Listrik Negara (PLN), which is back in the international market for the first time in over four years. Meanwhile, Singaporean property developer Oxley Holdings is tapping its $200m notes.

    • 08 May 2017
  • Norican assembles €340m B2 bond for acquisition

    Norican, the Danish metal parts enhancement firm, priced a €340m six year senior secured bond to finance an acquisition on Friday.

    • 05 May 2017
  • Belle laces up for HK$28bn take private loan

    A HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings is open for participation at the sub-underwriter level.

    • 05 May 2017
  • China’s Huachen Energy mandates banks for debut

    Huachen Energy Co is prepping investors for its inaugural appearance in the international bond market, meeting fixed income accounts next week.

    • 05 May 2017
  • Standard Chartered loans team loses one

    A member of the loan syndications team at Standard Chartered in Hong Kong has left the bank for personal reasons.

    • 05 May 2017
  • Hedge funds lever up CLO equity as yields slip

    Investor thirst for leverage has been intensifying in the US CLO market over the last six months. But while demand is hottest for levered bets on rated debt tranches, GlobalCapital understands that two banks have offered hedge funds leverage on equity tranches, one of the riskiest things an investor can do in structured finance. David Bell reports.

    • 04 May 2017
  • Levloans wrap several repricings as primary slows

    Several leveraged loan deals were wrapped up this week in an otherwise quiet window for primary issuance.

    • 04 May 2017
  • Saga readies debut sterling high yield bond

    UK specialist insurance and travel provider Saga is set to price its first bond next week, a benchmark deal that is part of a refinancing of its financial structure.

    • 04 May 2017
  • Swissport in technical breach as owner pledges shares elsewhere

    Swissport has announced a technical default on several of its senior debt facilities, after “becoming aware” that its owner, HNA, the Chinese private equity group, had pledged shares in it as collateral for another loan.

    • 04 May 2017
  • Sri Lanka serves up new dollar notes

    The Democratic Socialist Republic of Sri Lanka opened books for a new dollar offering on Thursday, braving a quiet week in Asia's debt capital markets.

    • 04 May 2017
  • Longer reinvestment periods produce mixed results for EU CLOs

    Extending reinvestment periods for European CLOs will benefit managers and equity investors but could have negative implications for credit overall, said S&P Global Ratings in its first quarter CLO performance report.

    • 03 May 2017
  • Amigo taps debut bond in optimistic sterling HY

    Amigo Loans, the UK consumer lender, launched a £50m tap of its debut high yield bond on Wednesday, and bankers said there is more to come from the sterling market after what has already been a busy start to the year.

    • 03 May 2017
  • Beechbrook opens Manchester office for direct lending

    Beechbrook Capital, the direct lending firm, has opened an office in Manchester after hiring a new investment director last month.

    • 03 May 2017
  • Corporate borrowers get ready for post-Macron deal rush

    Corporate bond investors have only snacks to feed on in the new issue market this week, but if Emmanuel Macron wins France’s presidential election on Sunday, next week is set to bring more solid fare.

    • 03 May 2017
  • Japanese buyers widen manager lists as CLO bid heats up

    Japanese CLO buyers are widening their investment mandates to include a broader range of managers and, for the first time, are looking at refinancing transactions.

    • 02 May 2017
  • Frigoglass seeks bondholder consent to restructure debt

    Frigoglass, the Greek maker of chiller cabinets, has launched a consent solicitation to holders of its €250m senior bond as it tries to restructure its debt through a UK scheme of arrangement.

    • 02 May 2017
  • Commerzbank CLO priced, as HPS preps EU debut

    The primary European CLO market is getting crowded, with Commerzbank pricing a new issue deal at the end of last week and HPS Investment Partners readying a debut European transaction.

    • 02 May 2017
  • Natixis appoints loans head to new high yield trading role

    Natixis has given its head of loan syndicate a new role, making him global head of high yield corporate distribution and trading.

    • 02 May 2017
  • FMSB firms up new issue rules

    The FICC Markets Standards Board (FMSB) published the final version of its guidelines on best efforts primary market syndications for fixed income in Europe on Tuesday, as it now looks to move on to tackling secondary market impacts of the new issue process.

    • 02 May 2017

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Goldman Sachs 5,003.18 13 8.74%
2 Deutsche Bank 4,881.33 25 8.53%
3 JPMorgan 4,826.81 11 8.44%
4 Bank of America Merrill Lynch 4,337.47 13 7.58%
5 BNP Paribas 3,160.34 16 5.52%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 23 May 2017
1 Deutsche Bank 3,271.23 30 8.16%
2 JPMorgan 3,230.36 27 8.06%
3 Citi 2,868.23 17 7.16%
4 Barclays 2,733.11 21 6.82%
5 Goldman Sachs 2,620.59 22 6.54%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 JPMorgan 15,642.64 116 12.03%
2 Bank of America Merrill Lynch 11,985.87 100 9.21%
3 Citi 11,558.90 86 8.89%
4 Goldman Sachs 10,013.87 71 7.70%
5 Barclays 7,309.82 50 5.62%