Leveraged/non-investment grade - All articles

  • Olam eyes loan for Australian subsidiaries

    Commodities company Olam International has approached loans bankers with a A$400m ($397m) deal that will raise money for two Australian subsidiaries.

    • 31 Jan 2011
  • Origin Energy seeks early birds for A$2bn loan

    Origin Energy, an Australian gas and electricity company, is putting together the top group of banks for a syndicated loan that it hopes will be worth around A$2bn. The company will use the money to buy two electricity providers from the New South Wales government.

    • 31 Jan 2011
  • Trans Media back in loans after scrapping bond plan

    Indonesian TV operator Trans Media plans to refinance an 18 month bridge loan with a targeted facility that could raise more than $400m. The company had considered turning to the bond market instead — but dropped that plan after getting a better offer from loans bankers.

    • 31 Jan 2011
  • Canara Bank benefits from Taiwanese demand

    Canara Bank, an Indian state-owned bank, got strong demand from Taiwanese lenders for a $175m loan — and now wants to increase its deal to $225m.

    • 30 Jan 2011
  • India’s PFC mandates for yen loan

    Indian state-owned lender Power Finance Corp has picked three banks to manage a yen-denominated loan worth the equivalent of $260m. The company wants to launch the deal into syndication early this week.

    • 30 Jan 2011
  • Indian Oil Corp tightens pricing with new loan

    State-owned Indian Oil Corp has launched a $400m loan into syndication, setting a tight pricing benchmark for several other government-owned companies that are expected to hit the market over the next few months.

    • 27 Jan 2011
  • SGX opts for loan to fund Aus takeover

    The Singapore Exchange moved closer to a planned $8.3bn takeover of its rival the Australian Securities Exchange this week, securing a $3.7bn dual-currency loan from six banks at razor thin margins.

    • 27 Jan 2011
  • Summit Oto signs increased loan after lenders flock to deal

    Indonesian auto loan company Summit Oto has signed and allocated a $155m loan after attracting 18 banks to a deal originally planned to be for just $55m.

    • 27 Jan 2011
  • Summit Oto signs and allocates upsized loan

    Indonesian auto loan company Summit Oto has signed and allocated a $155m loan after attracting 18 banks to a deal that it originally planned to be worth only $55m.

    • 26 Jan 2011
  • SGX picks loan to fund ASX buyout

    Singapore stock exchange has moved closer to a planned $8.3bn takeover of its Australian rival ASX, after securing a $3.7bn dual-currency loan from six banks.

    • 24 Jan 2011
  • Indian PSU loan aggression could fuel dollar bond supply

    India’s state-owned companies have a well-deserved reputation for being among the most aggressive borrowers in Asia. But some market participants argue that increasing aggression from Indian companies is isolating loans bankers — and pushing Indian borrowers to other markets.

    • 20 Jan 2011
  • Leads approach selected banks to take part in Hyva LBO by Unitas Capital and NWS

    Asian lenders have been asked to make early commitments to a $350m loan backing the buy-out of Hyva International before the deal is launched into general syndication.

    • 20 Jan 2011
  • EuroWeek Asia announces loans dinner nominations

    EuroWeek Asia is pleased to announce the shortlisted banks and deals for its annual syndicated loans and leveraged finance awards. The awards were voted for entirely by market participants — making them the definitive guide to the best performers of the year in Asia’s loan market. We polled Asia’s leading banks and borrowers to identify which institutions performed the best in 2010, and which were the most impressive deals of the year. The winners will be announced at a gala dinner at the Watermark on Wednesday, February 23 in Hong Kong. To reserve a table, contact Patrick McCulloch at pmcculloch@euroweekhk.com or on +852 2842 6953. Here is the list of potential winners (in alphabetical order):

    • 20 Jan 2011
  • Banks dominate as Baroda launches loan

    Bank of Baroda, one of India’s largest banks, has hit the road with a $125m three year facility this week. The loan is the latest deal from India’s bank sector, which continues to attract demand from lenders, despite heavy supply.

    • 20 Jan 2011
  • Asia Pacific syndicated loans - news in brief, January 21 2011

    • 20 Jan 2011
  • EuroWeek Asia announces loans dinner nominations

    EuroWeek Asia is pleased to announce the shortlisted banks and deals for its annual syndicated loans and leveraged finance awards. The awards were voted for entirely by market participants — making them the definitive guide to the best performers of the year in Asia’s loan market.

    • 19 Jan 2011
  • Indian public sector borrowers get more aggressive

    India’s state-owned companies have long demanded large commitments and tight pricing from loans bankers. But some are now taking it a step further and becoming more aggressive when sending out requests for proposals — making new demands about both commitments and the amount of information they expect banks to provide.

    • 19 Jan 2011
  • Thai Oil launches $200m loan with big commitments from MLAs

    Thai Oil Public Company has launched a $200m loan into syndication — but is already considering upsizing the deal after its three mandated lead arrangers committed $50m each.

    • 18 Jan 2011
  • Lenovo signs $500m loan after Asian demand

    Chinese computer manufacturer Lenovo will sign a $500m loan on Wednesday after four Asian banks joined the syndicate, attracted to the deal by the borrower’s willingness to pay up over recent loans from mainland borrowers.

    • 18 Jan 2011
  • Canara attracts five to loan as Baroda preps launch

    India’s state-owned Canara Bank has attracted five banks to a $175m loan that it hopes to close before the end of the week, showing that despite heavy supply from Indian banks there is still strong demand for the sector. The response to the deal is an encouraging sign for Bank of Baroda, which plans to launch its own $125m facility on Tuesday.

    • 17 Jan 2011
  • BRIEF: Reliance’s Infotel allocates $1.5bn facility

    Infotel Broadband Services, a subsidiary of Reliance Industries, has re-signed and allocated a $1.5bn loan that was prefunded by the mandated lead arrangers before Christmas.

    • 17 Jan 2011
  • Leads sound out banks with Hyva LBO

    Asian lenders have been asked to make early commitments to the $350m loan backing the buyout of Hyva International before the deal is launched into general syndication. Unitas Capital and NWS Holdings are buying the hydraulic cylinder manufacturer — and hope that its strong presence in Asia will help the loan generate big demand in the region.

    • 16 Jan 2011
  • CNS extends existing loan to finance Want Want buyout

    China Network Systems, the Taiwanese cable operator, has launched a NT$45.25bn ($1.55bn) loan to finance its acquisition by Want Want. But the financing will not be documented as a new loan — and will instead extend an existing deal agreed by CNS in the middle of last year.

    • 13 Jan 2011
  • Indian Railway on track to raise $350m as PFC eyes quick return

    Two Indian public sector companies are plotting a return to the loan market less than six months after they last tapped international banks for cash. Indian Railway Finance Corp (IRFC), the Indian rail authority’s financing arm, is planning a five year loan that could raise as much as $350m while Power Finance Corp (PFC) is looking at coming back to the yen market.

    • 13 Jan 2011
  • Asia Pacific syndicated loans – news in brief, January 14 2011

    • 13 Jan 2011
  • BKT Tires gets commitments despite crowded market

    Indian tyre manufacturer BKT Tires has shrugged off a slow start to syndication, attracting two commitments to a $165m loan that it hopes to close within a week.

    • 13 Jan 2011
  • Bank of Baroda readies first Indian bank loan of the year

    Bank of Baroda is preparing to launch the first international loan from an Indian bank this year, while heavy supply from the country’s financial institutions over past 12 months will give global lenders plenty of comparables for the deal.

    • 13 Jan 2011
  • Japan’s eAccess launches two-stage yen refi

    Japanese broadband provider eAccess has launched a ¥165bn ($1.99bn) loan to refinance a ¥220bn deal agreed by its subsidiary eMobile almost five years ago. The mobile phone subsidiary will guarantee the loan, which bankers expect will lead to more deals from the telecoms sector.

    • 12 Jan 2011
  • BKT Tires secures loan commitments in crowded market

    Indian tyre manufacturer BKT Tires has attracted two commitments to a $165m syndicated loan that it wants to close within a week, overcoming fears that the heavy supply of Indian loans last year — and the strong supply expected this year — would hurt demand.

    • 11 Jan 2011
  • BRIEF: Henderson Land signs increased club loan

    Henderson Land increased and signed a HK$10bn ($1.29bn) loan at the start of the week, getting strong demand from Asian banks after choosing to avoid syndication and do a club deal.

    • 10 Jan 2011
  • CNS extends existing loan to finance buyout

    China Network Systems, the Taiwanese cable operator, launched a NT$45.25bn ($1.55bn) loan last week to finance its acquisition by Want Want. But the financing will not be documented as a new loan — and will instead extend an existing deal agreed by CNS in the middle of last year.

    • 10 Jan 2011
  • BRIEF: Summit Oto attracts 18 to upsized loan

    Summit Oto, an Indonesian auto loan company, has secured 18 commitments to a $55m loan. The deal will now be increased to $155m to accommodate demand.

    • 08 Jan 2011
  • Indian Oil agrees loan margin, talks fees

    State-owned Indian Oil Corp has agreed the margin of a $500m five year loan that it will launch into syndication before the end of the month. But the company is still discussing fees with its lenders — and bankers are likely to point to a heavy pipeline of Indian deals as a reason the borrower should pay up.

    • 08 Jan 2011
  • Asia Pacific syndicated loans - news in brief, Janaury 7 2011

    • 06 Jan 2011
  • Banks work to tight deadline to refinance Sentosa in 2010

    Resorts World at Sentosa, the Singaporean developer of Sentosa Island, has closed an oversubscribed S$4.19bn ($3.2bn) refinancing, despite giving banks just three weeks to commit to the deal.

    • 06 Jan 2011
  • Towngas cuts HK margins with new loan

    Margins in Hong Kong’s loan market slipped to new lows this week as Hong Kong & China Gas (Towngas) launched a tightly priced HK$3bn ($386m) five year loan. The deal not only paid a low margin but also offered lenders miniscule fees. Some bankers argued that this would ensure weak demand in syndication.

    • 06 Jan 2011
  • Indian Oil gives international banks public sector exposure

    Loans bankers could have a new source of income in 2011: India’s public sector companies. State-owned Indian Oil Corp has mandated five bookrunners to syndicate a $500m loan — and bankers hope it will lead to more Indian borrowers turning to wider syndications rather than relying on one or two big lenders.

    • 06 Jan 2011
  • Maybank’s first loan for five years gives banks rare credit

    Maybank, the Malaysian financial institution, has launched a $500m five year loan into syndication — the first time the bank has tapped the loan market since March 2006. The deal offers lenders rare exposure to a high quality Malaysian credit, as well as a much higher margin than the last time it came to market.

    • 06 Jan 2011
  • Maybank hits market with rare loan

    Maybank, the Malaysian financial institution, has launched a $500m five year loan into syndication — the first time the bank has tapped the loan market since March 2006. The deal offers lenders rare exposure to a high quality Malaysian credit, and comes at an attractive price.

    • 05 Jan 2011
  • BRIEF: Canara attracts two commitments to $175m facility

    Canara Bank, an Indian state-owned financial institution, has attracted two commitments to a $175m loan. Several banks are still considering the deal, prompting the borrower to consider increasing the loan to accommodate demand.

    • 05 Jan 2011
  • Towngas launches aggressively priced facility

    Hong Kong & China Gas (Towngas), a Hong Kong-based utilities company, has launched a tightly priced HK$3bn ($386m) five year loan. The bookrunners are likely to retain a large portion of the loan as low fees will limit its appeal, according to bankers away from the deal.

    • 05 Jan 2011
  • Reliance’s Infotel wraps up loan as Tata closes

    Infotel Broadband Services, a subsidiary of Reliance Industries, has attracted eight banks to a $1.5bn loan that was signed and prefunded by the arrangers in December. The borrower aims to close syndication later this week but a few banks are still seeking credit approval to meet the deadline.

    • 04 Jan 2011
  • Banks refinance Sentosa despite time constraints

    Resorts World at Sentosa, the Singaporean developer of Sentosa island, has successfully closed an oversubscribed S$4.19bn ($3.2bn) refinancing — despite giving banks just three weeks to commit.

    • 04 Jan 2011
  • Indian Oil leads public sector loans spree

    Indian Oil Corp, a government-owned oil company, is preparing to syndicate a $500m loan. The five year deal will be the first from an Indian public sector company in 2011 — as several state-owned companies consider tapping the dollar market in the next few months.

    • 04 Jan 2011