Leveraged/non-investment grade - All articles

  • The end of the road for roadshows

    The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.

    • 27 Feb 2020
  • Shenwan makes HK$3bn loan debut through SPDB

    Chinese brokerage Shenwan Hongyuan Securities is out for a one-year bridge loan, seeking HK$3bn ($385m) for its international loan market debut.

    • 27 Feb 2020
  • Trip.com makes quick loan return amid travel woes

    Chinese travel services provider Trip.com Group is seeking a $1.2bn loan at a time when markets are reeling from the rapid spread of the coronavirus outside the mainland and companies are assessing the impact of the epidemic on their businesses. Despite difficult market conditions, the borrower has received plenty of interest for the deal. Pan Yue reports.

    • 27 Feb 2020
  • VPBank Finance plans dollar loan return

    VPBank Finance Company, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, is in talks with banks for a new loan.

    • 26 Feb 2020
  • Tech boutique offers tool to spot greenwash

    Investors who have been longing for the EU Taxonomy of Sustainable Economic Activities to tell them what is green are now realising that its arrival could make life tricky. From the end of next year, they will have to start reporting how sustainable all their portfolios are. It could prove an enormous headache. But a tiny company has developed a tool it claims can cut out a lot of the worries investors face in working out how to comply.

    • 26 Feb 2020
  • Park Hotel raises debut green loan

    Singapore’s Park Hotel Group has sealed its maiden green loan, raising S$237m ($169m) from United Overseas Bank.

    • 25 Feb 2020
  • Trip.com seeks $1.2bn loan amid travel woes

    Chinese travel services provider Trip.com Group has picked Standard Chartered as the mandated lead arranger and bookrunner for a $1.2bn refinancing deal.

    • 24 Feb 2020
  • Powerlong seeks refi loan through ICBC Macau

    China’s Powerlong Real Estate Holdings is returning to the international loan market to refinance some of its debt, mandating one bank to lead the deal.

    • 19 Feb 2020
  • Techcombank kicks off second loan attempt

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has launched a $300m deal into general syndication, marking its second attempt at tapping the loan market.

    • 19 Feb 2020
  • Genesis Care buyout offers loan buyers rare juice and a Chinese shareholder

    Australian healthcare business Genesis Care is borrowing A$1.4bn-equivalent to fund the buyout of 21st Century Oncology’s US business, giving loan investors a rare chance to put money to work at a spread north of 400bp.

    • 18 Feb 2020
  • China Datang makes offshore loan debut

    China Datang Corp, a power generation company, is making its debut in the offshore loan market, seeking HK$5bn ($643m).

    • 18 Feb 2020
  • Trans Retail loan: right call on staggered fees

    Trans Retail Indonesia has caused a stir by deciding to structure its new syndicated loan with a relatively rare two-stage participation fee payment. Although not all banks will be wholeheartedly on board, the borrower’s move is savvy under the circumstances.

    • 18 Feb 2020
  • Eisa returns for dual-currency refinancing

    Property company Eisa Holding has returned to the loan market for a refinancing deal through bookrunner First Commercial Bank.

    • 17 Feb 2020
  • Updated: Fosun seeks $650m loan with hefty top group

    Fosun International has returned to the offshore loan market for a $650m refinancing that is being run by a large banking group at the top.

    • 14 Feb 2020
  • Trans Retail’s unusual fee payment surprises bankers, but more clarity is needed

    Trans Retail Indonesia, also known as Carrefour Indonesia, has returned to the loan market for a $740m-equivalent dual-currency deal. It features an unusual fee structure that has left many bankers scratching their heads, writes Pan Yue.

    • 13 Feb 2020
  • Sustainability: more stick, less carrot

    Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.

    • 11 Feb 2020
  • Swissport preps refi as HNA exit talks return

    Swissport is looking to reprice its existing €850m term loan and add on another €50m, in a test of market appetite to tighten terms for companies with owners outside the top tier group of sponsors. The refi comes as reports suggest HNA Holdings, the Chinese conglomerate, is once again looking to sell the company after talks last year collapsed.

    • 11 Feb 2020
  • Trans Retail shakes things up with new loan

    Trans Retail Indonesia, also known as Carrefour Indonesia, has launched a dual-currency deal into general syndication, opting for a slightly different approach to paying participation fees to lenders.

    • 11 Feb 2020
  • PV Gas in talks with banks for syndication strategy

    PetroVietnam Gas (PV Gas) is in talks with banks about its syndication plan for a nine year loan.

    • 07 Feb 2020