High Yield Bonds

  • Smurfit Kappa seals five green promises with loan

    Smurfit Kappa seals five green promises with loan

    Smurfit Kappa, the Irish paper and cardboard packaging company, has signed its first sustainability-linked loan for €1.35bn, at the same time as setting new targets to reduce its carbon footprint and water use and employ more women.

  • ION Analytics tries again

    ION Analytics tries again

    ION Analytics has returned to market with a $1.9bn-equivalent loan package to fund the combination of Dealogic with Acuris, a deal it tried to sell ahead of the US election in November but pulled in the face of weakening sentiment and political stability concerns.

  • Sun Hung Kai builds HK$5bn club loan

    Sun Hung Kai builds HK$5bn club loan

    Hong Kong-listed Sun Hung Kai Properties has returned to the loan market for a HK$5bn ($645m) club deal. It is testing lender appetite at a time of growing selectiveness around the sector.

  • Fosun slices pricing on loan return

    Fosun slices pricing on loan return

    Chinese conglomerate Fosun International has cut pricing on a new $560m-equivalent multi-currency loan, as it counts on banks’ hunger to lend amid slow deal flow to push its transaction past the finish line.

  • BlackRock’s Fink backs net zero, leaves responsibility to clients

    BlackRock’s Fink backs net zero, leaves responsibility to clients

    BlackRock wants to move a long way towards catching up with leading investors in its response to climate change, its CEO Larry Fink indicated in his annual letter to chief executives on Tuesday. BlackRock stopped short of setting a net zero carbon emissions target for its $8.7tr of assets under management, or committing to swift decarbonisation. But it did publish a ‘net zero commitment’ saying it would “support the goal of net zero emissions by 2050 or sooner”.

  • Will direct lenders prove to be wolves in sheep’s clothing?

    Will direct lenders prove to be wolves in sheep’s clothing?

    Direct lenders and debt funds have always pitched themselves as closer partners for businesses than banks, bondholders, or other institutional lenders. When the going gets tough, they can move faster to waive covenants and offer new money than a less concentrated creditor group. But this so called partnership also puts them in pole position to take the keys when things go wrong — which we may see happen this year.

  • TalkTalk taps HY ahead of Toscafund takeover

    TalkTalk taps HY ahead of Toscafund takeover

    UK broadband company TalkTalk is marketing an add-on to its existing high yield notes, raising new term debt to pay down its revolver. The company is subject to a takeover bid from Toscafund and Penta Capital, which will leave the existing bonds in place, but grant them security, as well as layering in extra leverage with a PIK toggle from Ares.

  • Klöckner Pentaplast takes ESG margin route for refi loan

    Klöckner Pentaplast takes ESG margin route for refi loan

    Plastics packaging firm Klöckner Pentaplast has included an ESG margin ratchet in the loan leg of its refinancing, which was announced on Monday, a feature set to become increasingly common in European leveraged credit this year. Unlike previous deals with this structure, KP will take this structure to the dollar market, as well as euros.

High yield bond news archive