Leveraged Loans - All Articles

  • Ethypharm prescribes larger sterling loan, cuts euros

    French pharmaceuticals firm Ethypharm increased the sterling tranche in its term loan package on Tuesday, as it seeks to acquire UK-based Martindale Pharma.

    • 28 Feb 2017
  • Dewan Housing sets out for $125m refinancing

    Indian non-bank lender Dewan Housing Finance Corp is back in the loan market with a $125m three year refinancing via two leads.

    • 28 Feb 2017
  • Stada opens structured bidding process for €3.6bn LBO

    German generic pharmaceuticals company Stada opened a structured bidding process over the weekend for the numerous offers tabled for the firm, with Advent International’s binding €58 per share offer expiring on Monday.

    • 27 Feb 2017
  • Novelis sees good interest for $1.8bn TLB refi

    Novelis’s $1.8bn Asian refinancing of its US term loan B has seen four new lenders come in during syndication, as the leads hold out for several more large commitments.

    • 27 Feb 2017
  • KNOC's Canada refining arm seals C$1bn refi

    Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.

    • 27 Feb 2017
  • Parex seeks €865m loan to take out FRNs

    ParexGroup, the French construction chemicals maker, has scheduled a bank meeting for Monday for an €865m seven year term loan to refinance €700m of floating rate notes, as Irish telecoms firm Eir released price guidance on Friday for its €1.6bn loan refinancing.

    • 24 Feb 2017
  • China Orient AM makes quick comeback for $300m

    China Orient Asset Management International Holdings, which tapped the offshore loan market in July last year, has returned for a $300m dual-tranche facility.

    • 24 Feb 2017
  • China's ENN Ecological hunts for $200m refi

    Shanghai-listed ENN Ecological Holdings has hit the loan market for a $200m two year facility, offering hefty pricing for a relatively short tenor.

    • 24 Feb 2017
  • Banks financing high carbon companies risk ruin, report warns

    Shareholders and bondholders should pressurise banks to clean up their acts on climate change, sustainable finance experts said this week.

    • 23 Feb 2017
  • Quintiles IMS cuts $3bn loan, pumps up notes

    US healthcare research firm Quintiles IMS launched a $3.065bn-equivalent term loan ‘B’ refinancing and add-on this week. By Thursday the firm had dropped the add-on however as its €850m eight year notes offering proved popular.

    • 23 Feb 2017
  • European LBO pipeline grows as KKR wires in Telxius investment

    KKR has agreed to buy up to a 40% share in Telefónica’s telecoms infrastructure division Telxius for €1.275bn, adding further to a growing buyout pipeline in Europe.

    • 23 Feb 2017
  • Loans news in brief — February 23 2017

    Delek — Ion Trading — Profi

    • 23 Feb 2017
  • Sri Lanka cuts loan pricing after bumper 2016 deal

    Sri Lanka has picked a consortium of six banks for a $1bn borrowing, just months after wrapping up its last loan. A pick up in sentiment around the country and its reliable track record means the latest deal will do well in syndication, with heightened interest from India providing additional momentum. Shruti Chaturvedi reports.

    • 23 Feb 2017
  • Apcoa revs €325m refi loan to 450bp

    Pan-European car park operator Apcoa has released price guidance at 450bp with a 0% floor on its €325m seven year term loan ‘B’, a deal that follows a restructuring in 2015 that led to distressed debt investor Centerbridge taking over the firm.

    • 23 Feb 2017
  • Commerzbank names new UK corporate and loan origination heads

    Commerzbank has chosen a new head of its UK corporate banking operation and a new head of international loan origination as part of a reshuffle of senior bankers.

    • 22 Feb 2017
  • Corporate bond market keeps its head amid political noise

    The corporate bond market is picking up momentum again, with almost €3.5bn of debt printed already this week, and investors say issuance can continue apace if Europe’s economies continue to improve.

    • 22 Feb 2017
  • CVC shops for Żabka Polska at Mid Europa

    CVC has agreed to buy Polish retailer Żabka Polska from Mid Europa Partners, in what the latter says is the largest private equity exit in Poland to date.

    • 21 Feb 2017
  • KKR to pay €1.275bn for 40% of Telefonica's Telxius

    KKR has agreed to buy up to a 40% share in Telefónica’s telecoms infrastructure division Telxius for €1.275bn, adding further to a growing buyout pipeline in Europe.

    • 21 Feb 2017
  • RBI: trust Indian banks to let the right ones in

    The successful placement of an outbound acquisition financing for Indian company Intas Pharmaceuticals has put the spotlight on rules barring Indian banks from supporting local M&A. Intas’s loan has demonstrated that the country’s lenders are well positioned to structure and distribute complex deals with cross-border elements. It’s time for the regulator to rethink rules on domestic transactions.

    • 21 Feb 2017
  • Sri Lankan sovereign lines up six for loan

    Sri Lanka has chosen a consortium of six lenders to arrange an up to $1bn borrowing, after having invited pitches from banks in January.

    • 21 Feb 2017
  • Ethypharm guides acquisition loan, Global Blue to close

    French pharmaceuticals firm Ethypharm has released price guidance on its £152m six year cov-lite term loan ‘B’, backing its acquisition of UK-based Martindale Pharma.

    • 20 Feb 2017
  • DBS veteran loans banker heads to Cathay HK

    Cathay United Bank has hired a senior banker from DBS to helm its corporate banking operations in Hong Kong.

    • 17 Feb 2017
  • Yanlord builds $600m loan in general syndication

    Chinese property developer Yanlord Land Group has rolled out its $600m dual-tranche financing into general syndication.

    • 17 Feb 2017
  • LBO revival touted as Stada targeted

    Large leveraged buyouts may be set for a return to Europe’s leveraged finance market following a lengthy sojourn. Stada, the German generic pharmaceuticals firm, this week said it was fielding numerous buyout offers worth around €3.5bn, offering investors the respite from relentless repricings that they have craved for several months. Max Bower reports.

    • 16 Feb 2017
  • HSBC reshapes Apac levfin as new global head takes over

    HSBC is overhauling the leadership of its leveraged and acquisition finance and sponsor coverage teams in Asia Pacific, with some senior changes taking place this week. While sources emphasised this does not signify a retreat, the moves have put a focus on what some consider a somewhat “static” job market for acquisition and leveraged finance in the region. Shruti Chaturvedi reports.

    • 16 Feb 2017
  • Blackstone buy Cloudreach joins LBO queue

    Blackstone has bought a majority stake in London-based cloud software firm Cloudreach, adding further to its existing queue of European buyouts waiting to be financed.

    • 16 Feb 2017
  • NavInfo drives in for €110m acquisition facility

    Chinese digital map provider NavInfo has hit the syndicated loan market for €110m to fund its acquisition of a stake in a European target.

    • 16 Feb 2017
  • Stada, Body Shop sales offer glimmer of hope to levloan investors

    The repricing train steams on in European leveraged loans, although several buyouts are coming down the track, offering new paper and the promise of some yield to desperate investors.

    • 15 Feb 2017
  • Yanlord eyes $600m comeback for refinancing

    Chinese property developer Yanlord Land Group is poised to return to the loan syndications market with a $600m deal that will refinance a $385m borrowing raised in 2014.

    • 15 Feb 2017
  • Bank of China appoints new loans head in Beijing

    Bank of China has made a senior level change in its loans team in Beijing, transferring a banker from its Singapore branch to take up the top post in the syndications department.

    • 15 Feb 2017
  • Stada prescribes LBO for suffering levloan market

    Stada, the German generic pharmaceuticals firm, could offer leveraged finance investors the respite from repricing deals that they have craved for several months as it fields numerous buyout offers worth around €3.5bn.

    • 14 Feb 2017
  • Hotelbeds lays Tourico deal in hot levloan market

    Spanish travel distributor Hotelbeds is planning an add-on of its original LBO loans to fund the acquisition of Tourico Holidays, a US peer.

    • 14 Feb 2017
  • Ineos speeds loan allocation in ‘never ending repricing’ season

    Swiss petrochemicals firm Ineos priced a €4.5bn-equivalent four tranche term facility refinancing at the tight end of guidance on Monday, taking advantage of a leveraged loan market where abundant demand and scarce new paper is grinding down margins and encouraging a wave of refinancings.

    • 13 Feb 2017
  • Lifestyle lines up 10 for HK$9bn greenfield financing

    Sogo department stores operator Lifestyle International has firmed up the bank group for a HK$9bn ($1.16bn) loan to finance a project on a plot of land it acquired last year.

    • 13 Feb 2017
  • BC Partners hires Apollo IC's former president

    BC Partners has hired the former president and chief investment officer of Apollo Investment Corp to head its own newly opened credit platform.

    • 10 Feb 2017
  • Allocations out for Air India $69m syndication

    The list of investors that came aboard a $69m loan for Air India has been revealed. The company launched general syndication in October and brought in new lenders at the end of last year.

    • 10 Feb 2017
  • Apax's Unilabs acquires Alpha Medical

    Unilabs, the Apax Partners-owned medical diagnostics firm, has agreed to buy Alpha Medical from Mid Europa Partners in what will be the largest healthcare deal in central Europe since 2008.

    • 09 Feb 2017
  • Sunny outlook for Indonesia M&A financing

    Star Energy is borrowing $1.9bn via two facilities for its acquisition of Chevron’s assets in Indonesia, as strong early interest from banks revealed plenty of available liquidity for M&A into the country. Loans bankers expect more action from the export-oriented nation, following the recovery in commodity prices. Shruti Chaturvedi reports.

    • 09 Feb 2017
  • Syndicated Loan, Leveraged Finance and Private Placement Awards 2016: the full results

    GlobalCapital revealed the winners of its Syndicated Loan, Leveraged Finance and Private Placement Awards 2016 at its 14th Annual Loans Dinner on February 8.

    • 09 Feb 2017
  • Stone Canyon pounces as Mauser foregoes IPO

    Stone Canyon Industries, the US investment firm, has agreed to buy Mauser for $2.3bn after the German packaging supplier forewent a proposed initial public offering.

    • 08 Feb 2017
  • Loan pricing screws keep tightening

    Pricing in the European leveraged loan market is “in freefall”, according to one head of leveraged finance.

    • 08 Feb 2017
  • BGF partners with First Derivatives on SME investment

    The Business Growth Fund has teamed up with First Derivatives to invest in early stage technology companies in the UK, a sector the country's chancellor cited in the autumn budget as requiring extra funding.

    • 07 Feb 2017
  • Chronic supply shortage 'worrying' for market stability

    The sheer amount of excess liquidity in the leveraged finance market in Europe has initiated a relentless repricing wave. And on Tuesday, the head of leveraged finance at a bank in London went as far as to say that the supply/demand imbalance was so extreme it threatened medium term market stability.

    • 07 Feb 2017
  • UniCredit fills senior tier in capital markets, corpfin

    UniCredit has named the bankers to fill a series of senior country posts in its financing and advisory business, which covers equity and debt origination, coverage and M&A.

    • 07 Feb 2017
  • Trans Retail Indo opens $575m loan into general

    CT Corp company, Trans Retail Indonesia, has launched its $575m loan with seven mandated lead arrangers and bookrunners.

    • 07 Feb 2017
  • Logoplaste repackages loan as B&B checks out

    Logoplaste, the Portuguese plastic packaging maker, boarded the loan market's runaway repricing train on Monday, completing a request on four different tranches amid several similar deals.

    • 06 Feb 2017
  • Creativity key to LBO pipeline, says Goldman

    Several mid-market buyout deals materialised in the European leveraged finance market at this week, even as private equity firms struggle to source primary issuance amid highly elevated asset prices.

    • 06 Feb 2017
  • Xella builds on loan again as demand raises the roof

    Xella increased its €1.4bn buyout term loan for a second time on Thursday morning, adding another €50m in lieu of a proposed shareholder loan, while US software firm Infor did the same on its €750m term loan.

    • 03 Feb 2017
  • Sterling loans tighten as managed accounts bulk up

    Parkdean Resorts accelerated commitments on its £575m ($722m) buyout seven year term loan ‘B’ this week alongside several issuers who came to reprice sterling deals, as more cash pours into non-CLO investment accounts.

    • 02 Feb 2017
  • BC Partners: call me, Ismail

    BC Partners, the private equity firm, has hired a new managing partner from outside the company.

    • 02 Feb 2017
  • KWG signs up five for dual currency borrowing

    KWG Property Holding signed a dual currency term loan with a group of lenders on January 27, with the money to be used for refinancing and corporate funding requirements.

    • 01 Feb 2017