Leveraged Loans - All Articles

  • Cairn India $651m multi trancher hits syndication

    A $651m loan for Cairn India Holdings was launched into general syndication on Monday, with the deal divided into four portions based on the different purposes of the fundraising.

    • 31 May 2017
  • Banks target ‘quiet’ Formel D syndication as another 3i LBO allocates

    The loan backing 3i’s €247m investment in Formel D, the German car and car parts services firm, is due to be launched into syndication in early June.

    • 30 May 2017
  • MNC tunes in for $200m secured refinancing

    Media Nusantara Citra has enlisted three lenders to syndicate a $200m loan that refinances a borrowing from 2014.

    • 29 May 2017
  • Sinochem unit makes slick exit with bigger $270m facility

    Sinochem Hongrun Petrochemical, a crude oil refiner affiliated to Sinochem Group, has increased ts debut international borrowing to $270m from $110m.

    • 29 May 2017
  • Trio prep loan for Partners’ acquisition of SPi

    Private equity firm Partners Group has lined up financing from three lenders to back its acquisition of business process outsourcing company SPi Global.

    • 26 May 2017
  • First commitments in for Mu Sigma $400m financing

    A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from two banks. The leads on the loan had invited lenders to join as sub-underwriters in March.

    • 26 May 2017
  • Melita-Vodafone Malta tie up to bring €360m of debt

    Apax Partners and Fortino Capital have mandated banks for a €360m debt package to finance the merger of Maltese telecom firm Melita and Vodafone Malta.

    • 26 May 2017
  • VietinBank makes quick comeback with $100m facility

    VietinBank, one of the largest state-owned commercial lenders in Vietnam, has returned to the loan market, just four months after tying up its last fundraising.

    • 26 May 2017
  • Ineos to use some bank debt for Dong acquisition

    Ineos is likely to use some bank debt for its $1bn acquisition of Dong Energy’s upstream North Sea oil and gas business, and is also engaging in a $250m vendor loan note provided by Dong.

    • 25 May 2017
  • Hensoldt appears on levloan radar as market heats up again

    Hensoldt, the KKR-owned defence electronics firm, held a lender call on Wednesday morning for a €170m incremental term loan, following its acquisition of avionics business EuroAvionics. The deal comes as some investors are concerned the leveraged loan market could return to the extreme conditions of earlier in the year.

    • 25 May 2017
  • PortAventura lines up €620m refi and div recap loan

    PortAventura, the Spanish theme park operator, has scheduled a bank meeting for Thursday morning in London for a €620m seven year term loan ‘B’ refinancing and dividend recapitalisation.

    • 24 May 2017
  • Park Square Capital poaches Goldman levfin director

    Park Square Capital has hired an executive director from Goldman Sachs into its direct lending team, as well as promoting three partners from within, as it builds out its private debt business.

    • 24 May 2017
  • Triple-Bs dominate in tight corporate bond market

    Corporate borrowers hit the bond market early this week before Thursday’s Ascension Day holiday on the continent, and bankers expect issuance to drop off sharply in the coming days.

    • 24 May 2017
  • Six climb onboard NavInfo €110m acquisition loan

    Chinese digital map provider NavInfo has signed a €110m loan to fund its acquisition of a stake in a European company.

    • 24 May 2017
  • Levfin veteran Hsu tipped for senior role at StanChart

    Lyndon Hsu, the former Asia Pacific leveraged and acquisition finance head at HSBC, is heading to Standard Chartered to lead its levfin business.

    • 24 May 2017
  • Muzinich flexes private debt muscle in hot mart

    US investment house Muzinich sealed the first closing of its new pan-European private debt fund on Tuesday, amid a widespread rise in interest in the asset class.

    • 23 May 2017
  • Avaloq, Element release price guidance as Verallia hits 300bp

    Swiss fintech firm Avaloq released price guidance on its Sfr410m-equivalent of euro loans this week in a deal backing Warburg Pincus’s minority investment at a valuation of over Sfr1bn. It follows French packaging firm Verllia’s repricing of its €1.375bn term loan down to 300bp on Monday.

    • 23 May 2017
  • Douglas puts €300m term loan in shop window

    CVC owned Douglas, the German retailer, held a lender call on Wednesday for a €300m incremental term loan, backing its acquisition of Leading Luxury Group, the Italian beauty chain.

    • 23 May 2017
  • Hobbs appointed Asia managing partner at Linklaters

    Law firm Linklaters has appointed cross-border leveraged finance specialist Nathalie Hobbs its regional managing partner for Asia.

    • 23 May 2017
  • Commodities trader ETG hunts for $100m

    African agriculture conglomerate Export Trading Group (ETG) has approached the loan market for a borrowing of up to $100m.

    • 23 May 2017
  • Home Credit eyes Asian liquidity for €500m

    International consumer finance company Home Credit Group is syndicating a slice of its €500m fundraising to Asian banks.

    • 23 May 2017
  • Tikehau lends Terratest €60m unitranche facility

    Spanish geotechnical engineering firm Terratest has signed a €60m unitranche deal with Tikehau IM, as it looks to complete its restructuring following its acquisition by Platinum Equity in 2014.

    • 22 May 2017
  • Ex-Westpac banker to helm ANZ Oz loan syndications

    ANZ has named Gavin Chappell as the head of loan syndications for Australia, poaching him from Westpac.

    • 22 May 2017
  • Avaloq launches loans for Warburg investment

    Avaloq, a Swiss fintech firm, has launched Sfr410m-equivalent of loan facilities, backing Warburg Pincus’s 35% investment in it, which values it at over Sfr1bn.

    • 19 May 2017
  • Xiaomi dials for $1bn refi with two at the helm

    Chinese mobile phone maker Xiaomi, which sounded out lenders to refinance a syndicated loan raised in 2014, has sent out terms for the new facility to retail banks.

    • 19 May 2017
  • Bull run can charge through Trump but not forever

    Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

    • 18 May 2017
  • Hotelbeds tucks in loan among refis

    Several notable event-driven new money leveraged loans are set to come to market next month, but for now there is only a steady flow of repricings and small incremental deals.

    • 18 May 2017
  • Douglas enjoys retail therapy with Italian beauty group

    CVC-owned German retailer Douglas has agreed to buy Limoni and La Gardenia Beauty, two Italian beauty and perfume firms from sponsor Orlando Management. It said on Thursday that it may issue new a term loan to fund the deal, joining a list of mid-cap firms with similar plans.

    • 18 May 2017
  • China banks poised for bigger share of M&A financing pie

    Chinese banks are set to take up a bigger market share when it comes to financing M&A in 2017, building on their dominant presence in the Asian loan market last year. The stage is set for more collaboration between Mainland and international banks, according to panellists speaking at a leveraged and acquisition finance conference in Hong Kong on Wednesday. Shruti Chaturvedi reports.

    • 18 May 2017
  • HSBC picks Wong to lead mid-market levfin buildout

    HSBC has promoted Sheldon Wong to head its Middle Market Financial Sponsors (MMFS) team in Asia Pacific, a segment tipped to grow alongside the region’s increasing M&A volumes.

    • 18 May 2017
  • Apple joins riot of issuers in corporate bond market

    The European corporate bond market is again packed to bursting on Wednesday, with six new issues, among which Apple is likely to be one of the most sought after names. This week is building up to a huge total, as LVMH has already raised €4.5bn and Anheuser-Busch InBev £2.25bn.

    • 17 May 2017
  • VPBank Finance hikes to $150m with 10

    VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has raised the size of its syndicated loan to $150m. The deal was initially signed at $100m late last year, with the amount now increased after more banks came in.

    • 17 May 2017
  • Barclays lays out capital markets leadership, Brown to leave syndicate

    Following the new structure announced in Barclays banking and markets business last week, JF Astier, who now heads capital markets, has laid out the senior leadership of the business, and Jonathan Brown, co-head of IG syndicate, has moved to a new job.

    • 16 May 2017
  • Secondary loan market: No more playing second fiddle

    Slower primary issuance in Asia’s syndicated loan market has spurred retail lenders to look for opportunities in secondary — a challenge considering the market is severely underdeveloped. But this is all the more reason for bankers to cultivate a deeper and more expansive market for secondary trading as the move would provide plenty of benefits.

    • 16 May 2017
  • Moody's buys €3bn Bureau van Dijk from EQT

    Moody’s has bought Bureau van Dijk, the Dutch business intelligence firm, from EQT for €3bn, and is set to finance the deal with offshore cash and new debt.

    • 15 May 2017
  • Verallia returns with loan price cut request, five months after last one

    Verallia, the French bottle maker, requested a repricing of its €1.375bn term loan ‘B’ this week, having repriced it only in December.

    • 15 May 2017
  • Sri Lanka seeks up to $1bn in general

    An up to $1bn facility for the Sri Lankan sovereign has hit general syndication, about three months after the borrower mandated six banks for the deal.

    • 12 May 2017
  • Hotelbeds seeks add-on amid refinancings deluge

    Hotelbeds held a lender call on Tuesday for a €325m term loan add-on, backing its carve-out of GTA from Kuoni Travel, amid market conditions ever propitious for refinancings.

    • 11 May 2017
  • Primary loan slowdown shifts focus to secondary

    Primary loan syndication activity dropped sharply in April, with many loans desks in Asia not receiving a single invitation for weeks on end. In the absence of flow in primary, many participating banks are increasingly looking at the secondary market to cope with the slowdown, writes Shruti Chaturvedi.

    • 11 May 2017
  • HSBC levfin banker jumps ship to BAML

    A Hong Kong-based banker in the Asia Pacific leveraged finance team of HSBC has resigned, and is understood to be heading to Bank of America Merrill Lynch, according to sources.

    • 11 May 2017
  • Corporate bond feeding frenzy gets going

    Europe’s corporate bond market lit up with new issues this week, signalling the beginning of what is expected to be a hectic period until June. General Electric, BMW and Repsol with the first green bond from a major oil company are among the host of deals and mandates filling screens.

    • 10 May 2017
  • Axis Bank promotes Hong Kong credit head

    The head of credit for Axis Bank in Hong Kong has been promoted, with the scope of his role widening following the bump up.

    • 10 May 2017
  • Xiaomi sounds out banks for 2014 loan refi

    Chinese mobile phone maker Xiaomi is sounding out lenders to refinance a $1bn dual tranche borrowing raised three years ago.

    • 10 May 2017
  • Details emerge on tranches for Vedanta $651m syndication

    A $651m facility for Vedanta Group will be split into two tranches, one for overseas lenders and the other helmed by Indian banks, according to a banker close to the deal.

    • 10 May 2017
  • BOC gives Huishan Dairy a week to repay $50m loan

    Bank of China Macau has given China Huishan Dairy Holdings until next Tuesday, May 16, to repay a $50m loan raised in 2014 that matured in April.

    • 09 May 2017
  • Leoch International recharges with bigger $200m facility

    Leoch International Technology has wrapped up its syndicated fundraising at a larger size of $200m.

    • 09 May 2017
  • Banks meet over MAXpower $222m loan problems

    A default event has been declared on a $222m loan for Indonesian gas-to-power specialist MAXpower Group. The company first flagged up its financial problems over a year ago and had been speaking with lenders to rejig terms on the five year syndication sealed in 2015.

    • 09 May 2017
  • Ameos, Diaverum tee up bank meetings

    Hospital operator Ameos has scheduled a bank meeting for Wednesday morning for a €510m loan refinancing, as banks scramble for deals.

    • 08 May 2017
  • Bangur to helm FAB's Apac corporate finance team

    Anand Bangur has been named head of the Asia Pacific corporate finance division at First Abu Dhabi Bank (FAB), the entity born from the merger of First Gulf Bank and National Bank of Abu Dhabi.

    • 08 May 2017
  • Belle laces up for HK$28bn take private loan

    A HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings is open for participation at the sub-underwriter level.

    • 05 May 2017
  • Standard Chartered loans team loses one

    A member of the loan syndications team at Standard Chartered in Hong Kong has left the bank for personal reasons.

    • 05 May 2017
  • Levloans wrap several repricings as primary slows

    Several leveraged loan deals were wrapped up this week in an otherwise quiet window for primary issuance.

    • 04 May 2017
  • Beechbrook opens Manchester office for direct lending

    Beechbrook Capital, the direct lending firm, has opened an office in Manchester after hiring a new investment director last month.

    • 03 May 2017
  • Corporate borrowers get ready for post-Macron deal rush

    Corporate bond investors have only snacks to feed on in the new issue market this week, but if Emmanuel Macron wins France’s presidential election on Sunday, next week is set to bring more solid fare.

    • 03 May 2017