Leveraged/non-investment grade - All articles

  • Agile plans syndication for HK$3.2bn loan

    Agile Group Holdings, a Chinese property company, is planning to launch a HK$3.242bn ($418m) refinancing loan into general syndication in early July.

    • 30 Jun 2020
  • Country Garden readies $1.5bn refi

    Chinese property developer Country Garden is in the process of finalising the bookrunner group for a $1.5bn loan, with bankers already confident the deal will see strong interest from lenders.

    • 30 Jun 2020
  • Eternal Materials mandates loan for Malaysia business

    Taipei-listed Eternal Materials Co has mandated Taipei Fubon Bank for a loan to support its business in Malaysia.

    • 29 Jun 2020
  • CNQC taps Hong Kong for club loan

    CNQC International Holdings, a real estate developer, is tapping the Hong Kong market for a $150m club loan

    • 26 Jun 2020
  • PV Gas signs $112m loan after lengthy registration

    PetroVietnam Gas Joint Stock Corp has finally signed an offshore loan that closed syndication last year, after delays over registration with the country’s central bank.

    • 24 Jun 2020
  • Keppel, Cleantech raise sustainable financing

    Singapore’s Keppel Infrastructure Trust and Cleantech Solar have raised S$700m ($502m) from a sustainability-linked loan and $75m from a green loan, respectively.

    • 24 Jun 2020
  • Taiwan’s banks look for ways to tackle Libor transition

    Taiwanese company Inventec has become a rare example of a company in Asia that has tweaked its loan structure to prepare for the discontinuation of Libor. Progress is still slow, but banks are slowly coming to grips with the big task ahead of them, as the market moves to a new lending benchmark. Pan Yue reports.

    • 24 Jun 2020
  • Indomobil changes tack, opens for syndication

    Indomobil Finance Indonesia has launched a $240m borrowing into general syndication, changing its approach to the fundraising after market sentiment improved.

    • 24 Jun 2020
  • SMI’s $500m loan gets early support

    Banks have shown quick interest in a new $500m loan from Indonesia’s Sarana Multi Infrastruktur (SMI), which is wooing lenders with a short tenor deal.

    • 23 Jun 2020
  • Petron drills new club deal

    Philippine oil refining and marketing company Petron has approached its relationship banks for a new club loan, after acknowledging the impact of the Covid-19 pandemic,

    • 23 Jun 2020
  • Mu Sigma returns for $100m refi

    India’s Mu Sigma, a data analytics firm, has kicked off an up to $100m loan in general syndication, after receiving commitments from three banks ahead of launch.

    • 23 Jun 2020
  • China Steel, Ta Ya subsidiaries close loans

    Subsidiaries of China Steel Corp and Ta Ya Electric Wire & Cable have closed their respective dollar loans.

    • 23 Jun 2020
  • Genertec returns for $600m refi

    Chinese company Genertec Universal Medical Group has launched a $600m dual-currency loan into syndication.

    • 22 Jun 2020
  • Inventec prepares for Libor transition, tweaks new loan structure

    Taiwan-based notebook computer maker Inventec has changed the structure for its loan return to prepare for the expected discontinuation of Libor at the end of next year.

    • 22 Jun 2020
  • Canvest cans covenants for first six months of HK$2bn syndicated loan

    Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.

    • 18 Jun 2020
  • CP Group’s loan response will be hard to replicate

    The strong response from banks to Charoen Pokphand Group’s acquisition-related loan is not a true reflection of conditions in Asia’s syndications market — despite what some may say.

    • 16 Jun 2020
  • 58.com receives $3.5bn loan to back privatisation

    Chinese online marketplace 58.com has received a $3.5bn loan from Shanghai Pudong Development Bank to support its take-private.

    • 16 Jun 2020
  • Indofood to shortlist banks for $2bn acquisition loan

    Indofood CBP Sukses Makmur is putting together a shortlist of banks for its $2bn loan, which will fund its acquisition of instant noodle maker Pinehill Co.

    • 15 Jun 2020
  • Crisis Talk – John Hempton, CIO of Bronte Capital: ‘good things happen to bad people’

    John Hempton, the Australian short seller and self-styled eccentric, believes fraudulent companies will soon become evident in the corporate rubble left by the coronavirus pandemic. Hempton, who has bet against 1,100 companies over the course of his career, explained how his hedge fund Bronte Capital goes about finding rotten eggs in business and finance.

    • 12 Jun 2020
  • Yanlord builds demand for $1bn loan return

    Chinese property developer Yanlord Land Group has returned to the loan market with a dual-tranche refinancing deal of up to $1bn.

    • 12 Jun 2020
  • China’s 58.com eyes $3bn for take-private, but loans bankers prove reluctant

    Chinese online marketplace 58.com is seeking a $3bn loan for its take-private from the Nasdaq. The company is relying on Chinese banks to raise the money, but several told GlobalCapital Asia they were not interested. Pan Yue reports.

    • 11 Jun 2020
  • 58.com eyes $3bn loan from Chinese banks to go private

    58.com, a Chinese company that focuses on online classified advertisements, is in talks with banks in the country for a financing package of $3bn to support its take private.

    • 10 Jun 2020
  • Lei Shing Hong adds TaiFX-Libor clause on new loan

    Hong Kong-based Lei Shing Hong Credit has added a TaiFX-Libor clause to its new $320m loan, allowing it to offer a margin that is flat to its last transaction.

    • 09 Jun 2020
  • Crisis Talk – Marcus John, CEO of Sports Capital Advisors

    Marcus John, founder and chief executive of Sports Capital Advisors, tells GlobalCapital to expect a wave of insolvencies in national sport leagues but, he believes, sports with global appeal should fare better after lockdowns ease. Whether TV rights, a key source of revenue for major leagues, will be impacted remains unclear.

    • 08 Jun 2020
  • Cambodia’s Prasac wraps up loan at bigger size

    Cambodia’s Prasac Microfinance Institution has increased its latest offshore borrowing to $95m after attracting eight participants during syndication.

    • 08 Jun 2020
  • Indo’s Tiphone to restructure debt after loan default

    Indonesian mobile phone seller Tiphone Mobile Indonesia is restructuring its debt after failing to make payments on a loan, adding to a growing list of stressed businesses in the country. But what is worrying bankers more than the default itself is the lack of transparency from the borrower, writes Pan Yue.

    • 04 Jun 2020
  • Tiphone plans debt restructuring after loan default

    Indonesian telecommunications company Tiphone Mobile is restructuring its debt after failing to make payments on an offshore borrowing in March.

    • 03 Jun 2020
  • Zhongyu Gas returns for $300m refi

    China’s Zhongyu Gas Holdings has launched a $300m refinancing loan into general syndication.

    • 02 Jun 2020
  • Lao MoF returns for $50m loan

    The Ministry of Finance of the Lao PDR has returned to the loan market for a new financing of $50m.

    • 02 Jun 2020
  • Asia loan market starts to revive

    Asia’s loan market is slowly recovering from a near-shutdown due to Covid-19, with bankers predicting a busy couple of months ahead. But syndication will still be a challenge as lenders continue to remain risk-averse and selective on deals.

    • 01 Jun 2020