Leveraged Loans - All Articles

  • Italy's CMC kicks off €150m loan, levloans at the fore

    Italian construction firm CMC di Ravenna has launched a €150m credit facility in a levfin market where loans have the upper hand.

    • 31 May 2016
  • China Aircraft Leasing wraps up debut loan

    China Aircraft Leasing Group Holdings (CALC) has made its syndicated loan debut with a $194.73m borrowing.

    • 31 May 2016
  • Dalian Wanda firms up financing for property arm take-private

    Dalian Wanda Group has firmed up financing totalling HK$30.78bn ($3.9bn) for a HK$34.5bn offer to take its property arm private.

    • 30 May 2016
  • Scotiabank de Costa Rica out with $75m dual trancher

    Scotiabank de Costa Rica has included Taiwanese lenders in its list of invitees for a $75m two-tranche fundraising, following in the footsteps of many other borrowers from Latin America that are looking to Asia for liquidity.

    • 30 May 2016
  • STP eyes rupiah loan to take out dollar debt

    Indonesian telecommunications tower company Solusi Tunas Pratama is looking to replace its dollar debt with local currency borrowings in a bid to curb risks from foreign exchange movements.

    • 30 May 2016
  • BIDV wraps up $350m loan with 18

    Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has allocated its latest borrowing at an increased size of $350m.

    • 27 May 2016
  • APLMA names new treasurer after eight years

    The position of treasurer at the Asia Pacific Loan Market Association (APLMA) has changed hands after eight years.

    • 27 May 2016
  • Evry minority shareholders shocked by dividend recap

    Minority shareholders in Evry, a Norwegian IT company controlled by Apax Partners, were dismayed to learn this week that Apax had not told them it planned to extract a €203m dividend from the firm, even as it is trying to buy them out, writes Max Bower.

    • 26 May 2016
  • Risks escalate for securitised peer-to-peer loans

    Recent troubles at Lending Club have only compounded risk in the peer-to-peer credit market.

    • 26 May 2016
  • Loans, news in brief — May 26, 2016

    McCarthy & Stone — OHB — Artsana — Eir

    • 26 May 2016
  • Hotelbeds launches €490m buyout loan

    Hotelbeds, the travel services operator based in Majorca, launched syndication for its €490m term loan ‘B’ on Thursday. The loan will be used for Cinven's and CPPIB's acquisition of Hotelbeds.

    • 26 May 2016
  • Taiwan banks eye Latam, ME for loan diversity

    Financial institutions have been propelling loan activity this year raising $4.2bn in Asia ex-Japan to become the third largest contributor to total volumes year-to-date. While Indian, Indonesian, Malaysian and Philippine banks have been regulars in the market, banks from geographies as far away as Latin America and the Gulf are also tapping Asian, specifically Taiwanese, liquidity, write John Loh and Shruti Chaturvedi.

    • 26 May 2016
  • China Hongqiao firms up $700m three year refinancing

    China Hongqiao Group is in the market for a $700m three year refinancing that launched on May 16, via seven bookrunners. The loan offers fees that encourage lenders on a 2015 loan to up their exposure to the company.

    • 26 May 2016
  • Delta Dunia spins for $260m borrowing with two banks

    Indonesian textile company Delta Dunia Sandang Tekstil has sent out preliminary invitations for participation in its latest $260m fundraising.

    • 26 May 2016
  • Credit Suisse picks vice chairman of global levfin

    Credit Suisse has promoted its head of US leveraged finance capital markets to vice chairman of acquisition and leveraged finance capital markets, which is a recently created role.

    • 26 May 2016
  • Former state utility Eir plans €150m refinancing

    Eir, Ireland’s largest telecoms operator, plans to issue a €150m revolving credit facility according to a statement filed at the London Stock Exchange.

    • 25 May 2016
  • Corporate bonds go soft, but issuers keep coming

    The investment grade corporate bond market is going through a soft patch, with new deals underperforming in secondary and new issue premiums widening. So far, though, issuers have not been put off.

    • 25 May 2016
  • Details emerge on Tata Steel Canada facility

    Details have emerged on the pricing and structure of the latest borrowing by Tata Steel, which will be used to refinance the debt of its Canadian arm.

    • 25 May 2016
  • Evry plugs in €275m dividend recap

    Evry, the Norwegian IT firm 88% owned by Apax Partners, has bank meetings on Wednesday morning for its €275m equivalent dividend recapitalisation term loan ‘B’.

    • 24 May 2016
  • China Orient AM out for new $200m deal

    China Orient Asset Management International is seeking a $200m three year loan that is now open to retail lenders.

    • 24 May 2016
  • Adira Dinamika eyes $100m from general

    Indonesia’s Adira Dinamika Multi Finance is in the loan market for a $100m fresh money borrowing via two mandated lead arrangers and bookrunners.

    • 24 May 2016
  • Artsana to close acquisition loan

    Artsana, the Italian babycare products manufacturer, has replies due on Thursday for its €575m debt package backing InvestIndustrial’s 60% equity stake acquisition.

    • 23 May 2016
  • CVC to close two LBOs without any wider syndications

    CVC Capital Partners is set to close two leveraged buyouts at early bird stage for Tipico, the German gaming operator, and Doc Generici, the Italian generic pharmaceutical firm.

    • 23 May 2016
  • Trans Corpora weighs $150m loan syndication

    Trans Corpora is poised to decide this week whether to open syndication on a $150m loan that Credit Suisse and Maybank have pre-funded, according to bankers close to the transaction.

    • 23 May 2016
  • Biostime seeks lenders for $450m bridge refi

    Biostime International Holdings has begun syndication on a refinancing of a $450m bridge loan taken last year to fund its A$1.386bn ($995m) acquisition of a controlling stake in Swisse Wellness.

    • 23 May 2016
  • Powerlong signs $120m term loan with three

    Chinese property developer Powerlong Real Estate Holdings has inked a $120m term loan with three banks to refinance its existing notes.

    • 23 May 2016
  • Credit Suisse appoints new head of US levfin trading

    Credit Suisse has appointed a new head of US leveraged loans and high yield bond trading, a source has confirmed.

    • 20 May 2016
  • China Hongqiao collects commitments for $700m loan

    China Hongqiao Group is in the market for a $700m three year loan that was opened for syndication this week via seven bookrunners, according to bankers working on the deal.

    • 20 May 2016
  • Loans, news in brief — May 19, 2016

    Ooredoo — Assura — Hill & Smith — Amor — Vestas

    • 19 May 2016
  • Kuoni travels far and wide to allocate LBO

    Kuoni, the Swiss travel firm, finally allocated a €575m seven year cov-lite term loan ‘B’ at much wider pricing than original talk, and after a drawn out syndication process.

    • 19 May 2016
  • IFC throws weight behind $100m Asia loan fund

    The International Finance Corp and ADM Capital have launched a new $100m fund that will be used to syndicate loans to cash strapped small and medium sized companies in Asia, which have found themselves locked out of debt markets. While the venture wants to be a safety net for SMEs, the market will take some convincing, writes John Loh.

    • 19 May 2016
  • MPM Finance to launch new $100m facility next week

    Mitra Pinasthika Mustika Finance is poised to launch a $100m borrowing into syndication next week, with the Indonesian firm having mandated a trio of banks to arrange the deal.

    • 19 May 2016
  • Pertamina out with long awaited $1.5bn loan RFP

    Indonesian state-owned oil company Pertamina has requested proposals from banks for a $1bn five year loan that includes a greenshoe option, according to bankers.

    • 19 May 2016
  • Allnex releases price talk, Amor launches buyout debt

    Allnex, the Brussels-headquartered coating resins business, has released price talk on its €760m cov-lite term loan ‘B’ while Amor, the German jeweler, has launched its €145m buyout debt package.

    • 18 May 2016
  • Marlin launches $425m financing for acquisition

    Marlin Enterprise has opened syndication for a $425m five year loan to finance its acquisition of a gold mine in North Sumatra in Indonesia, said bankers working on the trade.

    • 18 May 2016
  • Corporate bonds and high yield settle into even pace

    After the extremes of recent weeks, with enormous order books and sometimes negative new issue premiums, Europe’s corporate bond market has reached a steadier cruising speed this week.

    • 18 May 2016
  • Novacap commits due as poor pipeline hits CLOs

    Novacap, the French chemicals and pharmaceuticals firm, had replies due on Wednesday on its €435m seven year cov-lite term loan ‘B’ as the market for European leveraged loans struggled to clear all launched deals and build a decent pipeline.

    • 17 May 2016
  • Allnex brings rare LBO to European market

    Allnex, the Brussels-headquartered coating resins business, had bank meetings on Wednesday for a €760m cov-lite term loan ‘B’ backing its acquisition of Nuplex, the New Zealand resins firm.

    • 17 May 2016
  • Pertamina invites bids for $1bn borrowing

    Indonesia’s Pertamina is planning a $1bn five year borrowing that includes a greenshoe option and has sent out a request for proposals to banks, according to bankers close to the situation.

    • 17 May 2016
  • Reverse flex for rare Middle East private equity deal

    Two US private equity firms have raised a $350m-equivalent loan for Network International’s buyout of Emerging Markets Payments Holdings (EMP) and tightened the pricing in syndication.

    • 16 May 2016
  • Airbus releases guidance, First Data bucks trend

    Airbus has released price talk on a €425m term loan, while First Data, the US payments technology firm, priced its euro term loan at an unusually tight margin on Monday.

    • 16 May 2016
  • Bhira seals $460m refi with 19 banks

    Bhira Investments, a unit of India’s Tata Power, has wrapped up allocations for its $460m refinancing following a bumper response in syndication, with 19 banks getting a slice of the trade.

    • 16 May 2016
  • Macau’s SJM rolls the dice for HK$25bn

    Macau casino operator SJM Holdings has launched a HK$25bn ($3.2bn) dual-tranche financing into general syndication with proceeds to be used for the construction of a new project in the gambling hub.

    • 13 May 2016
  • Banks await news on PetroVietnam covenant waiver

    Lenders are waiting for an update on PetroVietnam Exploration Production Corp’s request to waive a covenant on a borrowing sealed in 2012.

    • 13 May 2016
  • Updated: DBS syndicated loans team loses two

    DBS has seen one departure each in its loans teams in Singapore and Hong Kong, according to sources.

    • 13 May 2016
  • Noble winds up financing worth $3bn amid trying times

    Commodities trader Noble Group has wrapped up a $1bn committed unsecured revolver with 25 banks joining the transaction, alongside a $2bn revolving borrowing base facility.

    • 12 May 2016
  • Barclays, DBS, SC rejig loans teams in Asia

    Three banks have seen changes to their loan syndication teams in Asia following departures and internal moves.

    • 12 May 2016
  • Trio unfolds Youyuan International $120m borrowing

    Tissue paper maker Youyuan International is tapping the loan market for a $120m 3.5 year facility, marking its return after a gap of two years.

    • 12 May 2016
  • Lloyds levfin banker flies to Soc Gen for short haul

    A former director-level leveraged finance banker at Lloyds joined Société Générale this month on a short term contract.

    • 11 May 2016
  • Corps rampant pre-Brexit even as premiums widen

    Primary issuance of euro corporate bonds is catching up fast with the €134bn issued in the first half of 2015 .

    • 11 May 2016
  • Youyuan unwraps $120m loan with three at the top

    Chinese tissue paper maker Youyuan International has returned to the loan market after a two year gap and is seeking a $120m 3.5 year facility.

    • 11 May 2016
  • eHi revs up $150m debut loan in syndication

    Chinese auto rental company eHi Car Services, which made its debut in the international bond market late last year, has set its sights on a $150m syndicated loan.

    • 11 May 2016
  • Airbus unit launches KKR acquisition loan

    Airbus’s defence electronics unit has launched a €425m term loan ‘B’ backing private equity firm KKR’s €1.1bn acquisition of the business.

    • 10 May 2016
  • Stabilus hooks up equity bridge

    The €640m loan for German hardware manufacturer Stabilus will include a €115m bridge to equity facility.

    • 09 May 2016
  • Cision launches May's first European levloan

    Cision, the Chicago-headquartered cloud based PR firm, has launched a €250m term loan ‘B’ just over a week after launching a $1.1bn dollar tranche for its $850m acquisition of PR Newswire.

    • 09 May 2016
  • Nine sign up for $456m Interplex acquisition loan

    Allocations have been issued for a $455.75m loan to support Baring Private Equity Asia’s acquisition of Singapore-based Interplex Holdings.

    • 09 May 2016
  • StanChart loses northeast Asia loans head

    Standard Chartered's regional head of loan syndications for Greater China and northeast Asia has resigned to move to a rival, according to a source.

    • 06 May 2016
  • Replies due on Ineos, Liberty Global owned firms

    Inovyn, the UK-headquartered PVC producer 50% owned by Ineos, and Telenet, the Belgium broadband services provider owned by Liberty Global, both had replies due on Thursday for loan packages.

    • 05 May 2016
  • Bankers adopt caution despite Indian loan volume pick up

    Dollar loan volumes from India have risen 10% so far this year, with numbers driven mainly by fundraisings for large conglomerates and state-owned firms. This is despite a slump in overall activity in the rest of Asia. But the lukewarm response during syndication for some of the recently closed deals indicates a pushback on pricing from retail lenders, writes Shruti Chaturvedi.

    • 05 May 2016
  • Asia loans news in brief, May 6, 2016

    Hong Kong-listed conglomerate Dah Chong Hong is readying a loan to back its acquisition of Li & Fung’s Asia consumer and healthcare distribution business.

    • 05 May 2016
  • JP Morgan head of levfin Australia among senior exits

    JP Morgan’s head of syndicated and leveraged finance Australia has left the bank, with the head of European loan trading having resigned also, sources with knowledge of the matter have confirmed.

    • 04 May 2016
  • Loans MD to leave Barclays

    A managing director of loans execution will leave Barclays in London at the end of May.

    • 04 May 2016
  • Corporate credit ignores weak equities in deal splurge

    This is a truncated week, with a UK holiday on Monday and France and Germany out on Thursday, but companies have crammed Europe’s investment grade bond market with deals in the two days in between.

    • 04 May 2016