Leveraged/non-investment grade - All articles

  • Coronavirus intensifies thirst for new responsible capitalism

    The Covid-19 pandemic is an ESG issue. More than ever before, a natural phenomenon is driving markets. Suddenly, social responsibility is no longer kooky but required of all. How are responsible investors reacting — and can the crisis lead to a better model of financial markets, where all stakeholders are considered?

    • 27 Apr 2020
  • Adani Electricity ditches syndication, clubs $400m loan

    Adani Electricity Mumbai has decided to close its debut offshore borrowing as a club deal with eight banks, bringing an end to long-running discussions about a possible syndication.

    • 27 Apr 2020
  • SMI mandates banks for $500m refi

    Indonesia’s Sarana Multi Infrastruktur (SMI) has mandated five banks for a planned $500m refinancing loan. But bankers on the deal warn the terms could change due to uncertain market conditions.

    • 27 Apr 2020
  • Techcombank boosts debut loan to $500m

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has closed its maiden borrowing at a bigger size of $500m, after receiving strong response during syndication.

    • 24 Apr 2020
  • Qingyuan seeks loan payment delay amid oil price plunge

    Shandong Qingyuan Group Co, a Chinese manufacturer and distributor of petrochemical products, is in talks with lenders to delay payment on a $1bn loan sealed last September as volatile oil prices take a toll on the company’s business.

    • 24 Apr 2020
  • Wumei raises over €1bn for Metro China buy

    Chinese retailer Wumei Technology Group has raised a loan of over €1bn to support its acquisition of German company Metro’s Mainland business.

    • 24 Apr 2020
  • Tianqi reels from lithium price drop with $3.5bn loan refi under pressure

    Tianqi Lithium Corp’s rising debt burden since its acquisition of a stake in a Chilean mining company two years ago is causing trouble. The Chinese borrower is seeking covenant waivers and a tenor extension on part of a $3.5bn loan, raising concerns among bankers about the performance of other commodity credits amid the Covid-19 pandemic. Pan Yue reports.

    • 23 Apr 2020
  • Correction: Zhaoheng gets tenor extension on old loan

    Zhaoheng Hydropower (Hong Kong) has obtained a maturity extension for a $128m loan sealed in 2017, after difficult market conditions put pressure on its refinancing abilities.

    • 22 Apr 2020
  • Country Garden seeks $140m loan for investments

    Chinese property firm Country Garden Holdings Company is wooing lenders to a $140m loan to support its investments in two start-ups.

    • 20 Apr 2020
  • EcoGreen returns for $150m loan

    Chinese chemical company EcoGreen International Group has returned to the offshore loan market after a three year break for $150m.

    • 17 Apr 2020
  • Huazhu seeks loan covenant waiver on Covid-19 impact

    Chinese hotel company Huazhu Group, previously known as China Lodging Group, is asking lenders’ consent to waive some of the financial covenants on a recent syndicated loan.

    • 16 Apr 2020
  • HSBC pushes closer integration with fresh global banking revamp

    HSBC has overhauled the structure of its global banking business for the second time in as many years in a push to cut costs and bring its commercial and investment banking divisions closer together.

    • 14 Apr 2020
  • Techcombank attracts 21 in syndication

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has brought in 21 banks for its debut borrowing in the loan market.

    • 09 Apr 2020
  • Geely eyes $900m loan for restructuring

    Zhejiang Geely Holding Group, a Chinese auto company, is in talks with banks for a new loan to support a planned restructuring.

    • 07 Apr 2020
  • Guggenheim tops chart as IB revenues shrink

    Investment banking revenue in March was lower than normal as the coronavirus pandemic sapped risk appetite — but it was far from a total wipeout.

    • 02 Apr 2020