Leveraged/non-investment grade - All articles

  • Sustainable loans give banks strange urges

    New dynamics are appearing in the sustainability-linked loan market, as the product balloons and banks prepare for more intense scrutiny of their green lending activities. The trends highlight how unformed and confusing this young market still is, writes Jon Hay.

    • 30 Jan 2020
  • Toys or weapons? The choice for sustainable loans

    Some weird genetic mutations have been appearing in the hothouse of sustainable finance, where new green products are cultivated to beautify the grandees of the capital markets.

    • 30 Jan 2020
  • Aoyuan closes $230m loan with eight banks

    China Aoyuan Group has closed a $230m-equivalent club loan with eight banks.

    • 24 Jan 2020
  • Corp finance chief Wallace to leave HSBC

    HSBC is looking for a new head of corporate finance coverage to replace Matthew Wallace, who is quitting the firm. Meanwhile, Simon Derrick and Michael Ellam have been handed new jobs as the bank reorganises the way it covers investors and public sector institutions. In Asia Pacific, Rami Hayek is leaving his post.

    • 23 Jan 2020
  • Techcombank nears debut as Vietnamese borrowers eye international loan market

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is making its second attempt to raise a syndicated loan, after pulling a deal in 2017. It is one of several Vietnamese borrowers now planning a debut in the international market, reports Pan Yue.

    • 23 Jan 2020
  • BFI Finance returns for $75m loan

    BFI Finance Indonesia, which provides funding for automobiles, heavy equipment and properties, has returned to the loan market for a $75m borrowing.

    • 22 Jan 2020
  • Techcombank readies new $300m loan

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has mandated five banks for a $300m loan.

    • 21 Jan 2020
  • Trans Retail, Sritex mandate banks for loan return

    Trans Retail Indonesia, previously known as Carrefour Indonesia, and textile firm Sri Rejeki Isman (Sritex) have both mandated banks for new loans.

    • 21 Jan 2020
  • The power of making a fuss

    As head of BlackRock, the largest asset manager, Larry Fink’s pivot to responsible investing in recent years has been influential.

    • 16 Jan 2020
  • Pan Brothers ready to navigate Duniatex woes for new loan

    Indonesian apparel supplier Pan Brothers is in talks with banks for a new dollar loan, as it prepares to return to the market for the first time since 2018. However, syndication may be a challenge, as lenders are still reeling from the default of a subsidiary of textile firm Duniatex last year, writes Pan Yue.

    • 16 Jan 2020
  • India’s Birla Carbon, Tata Steel tap banks for loans

    Indian companies Birla Carbon and Tata Steel have mandated banks for loans and both borrowers have signed up large groups of lenders at the top level.

    • 15 Jan 2020
  • New World China breaks five-year loan hiatus

    New World China Land, the mainland China property business arm of Hong Kong’s New World Development Co, has returned to the offshore loan market after five years for a HK$5bn ($643m) borrowing.

    • 14 Jan 2020
  • ENN Ecological makes debut with $200m loan

    Chinese liquefied natural gas supplier ENN Ecological Holdings Co has made its debut in the offshore loan market through Standard Chartered.

    • 13 Jan 2020
  • Sustainability loans need rating agencies

    The sustainability-linked loan market is a glorious mess.

    • 10 Jan 2020
  • LMA to guide banks on how to avoid greenwashing in sustainable loans

    The loan market’s trade bodies are preparing to give new guidance about how to ensure sustainability-linked loans — in which borrowers can get a margin reduction if they hit sustainability targets — are genuinely “ambitious”. Bankers want to protect the market from rising concerns that some deals’ terms are too easy on the borrowers.

    • 09 Jan 2020
  • Axis sells down full $100m loan hold of Syndicate Bank

    India’s Syndicate Bank has closed its $100m borrowing, with the lead bank selling the entire amount to three participants.

    • 08 Jan 2020
  • Indorent closes $175m loan with 13 banks

    Indonesian automobile company CSM Corporatama, also known as Indorent, has wrapped up its syndicated loan at a bigger size of $175m.

    • 07 Jan 2020
  • Vingroup attracts 14 banks to $525m loan

    Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have exercised part of a greenshoe option on their joint borrowing, boosting the loan size to $525m.

    • 03 Jan 2020
  • VPBank Finance boosts borrowing to $200m

    VPBank Finance Company, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has increased the size of its loan to $200m after seven banks joined during general syndication

    • 02 Jan 2020