Leveraged Loans - All Articles

  • Mizuho loses Korea, Thailand-focused loans banker

    Mizuho has lost a banker in its syndicated loans department in Hong Kong, according to two sources.

    • 30 Jun 2017
  • Hsu on board StanChart's leveraged, structured solutions team

    Standard Chartered has appointed Lyndon Hsu as global head of leveraged and structured solutions, based in Singapore.

    • 30 Jun 2017
  • Aier Eye loan highlights more collaboration

    A €179.4m loan to support Chinese company Aier Eye Hospital Group’s acquisition of Spanish firm Clinica Baviera has entered syndication with three banks at the helm. The deal is another example of Mainland firms’ eagerness to expand overseas, which is in turn giving the country’s lenders with similar ambitions a leg-up as they venture into relatively unexplored markets. Shruti Chaturvedi reports.

    • 29 Jun 2017
  • Investors toughen to Klöckner, Manutencoop

    Buyers considering Klöckner Pentaplast’s €1.6bn loan and Manutencoop's high yield bonds forced the issuers to sweeten terms this week, in a now rare sight in the leveraged finance market.

    • 28 Jun 2017
  • Lotte Vietnam Shopping opens $300m loan

    Lotte Vietnam Shopping has hit the international syndicated loan market for a $300m borrowing, with Standard Chartered at the helm.

    • 28 Jun 2017
  • US lev loan volume hits all-time record in first half

    Issuance of leveraged loans hit $548bn in the first half of this year, setting a record for any first or second half, according to S&P Global Ratings.

    • 27 Jun 2017
  • Asian leveraged finance is finally finding its feet

    A burst of M&A-related financing has put the spotlight on the Asian leveraged finance market, which some still see as a poor relation to its US, European and Australian equivalents. But recent deals show that Asia’s levfin market has been evolving.

    • 27 Jun 2017
  • EQT finds buyer for 'out of the woods’ Tiama

    French family office Caravelle has been granted exclusivity to buy Tiama, a provider of services to the glass packaging industry, from shareholders EQT Credit II, Kartesia, European Capital and Omnes.

    • 26 Jun 2017
  • Belle HK$28bn take private loan allotted among 10

    The sub-underwriting phase of a HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings has wrapped up, with nine lenders joining original mandated lead arranger and bookrunner (MLAB) Bank of America Merrill Lynch (BAML).

    • 26 Jun 2017
  • BNP leads $60m syndication for Qingdao Lidong

    Qingdao Lidong Chemical Co, a unit of petroleum products company GS Aromatics, is seeking a $60m loan in general syndication.

    • 26 Jun 2017
  • BTMU hires for Oceania event financing

    Bank of Tokyo-Mitsubishi UFJ (BTMU) has hired Duncan Connellan as managing director of its Australian event finance team, part of the firm’s Asian investment banking division.

    • 26 Jun 2017
  • Times Property builds $160m dual currency loan

    Chinese real estate developer Times Property has hit the loan syndications market for a dual currency financing, about two months after issuing an offshore bond.

    • 23 Jun 2017
  • Turk Eximbank makes quick comeback for €300m

    Turk Eximbank, which wrapped up a €412m refinancing in March, has turned its attention to the Asian loan market for a fresh money €300m borrowing.

    • 23 Jun 2017
  • Nord Anglia tightens amid commitments rush

    International schools operator Nord Anglia has tightened pricing and accelerated the deadline on its $1.22bn-equivalent euro term loan, while up to six leveraged loans are due to close syndication at the end of the week.

    • 23 Jun 2017
  • GLP, Hutchison M&A loans keep bankers on their toes

    The Asian M&A market is heating up, providing loans bankers with some welcome relief following a relatively quiet first half. Promising opportunities from the potential spin-off of Hutchison Global Communications (HGC) and the sale of Singapore’s Global Logistic Properties have set the stage for more activity. Shruti Chaturvedi reports.

    • 22 Jun 2017
  • Dunlop signs £45m direct lending deal with Permira for buyout

    Permira Debt Managers has sole-financed Liberty Hall Capital Partners’ $135m acquisition of UK aircraft tyre company Dunlop with a £45m loan, after closing its third direct lending fund at €2.1bn this week.

    • 21 Jun 2017
  • CVC buys two TMT firms, Blackstone agrees Celanese JV

    CVC flexed its buyout muscles again this week, buying two European tech companies for more than €1bn, while Blackstone has agreed to a joint venture for its recently acquired cigarette filter making business Rhodia Acetow with a unit of US chemicals firm Celanese.

    • 20 Jun 2017
  • Indo FIs line up syndicated loans totalling $700m

    Two Indonesian financial institutions, Bank Negara Indonesia (BNI) and Adira Dinamika Multi Finance, are scheduled to hit the loan market in July.

    • 20 Jun 2017
  • REC Solar exercises greenshoe, allots $330m loan

    High-end solar panel maker REC Solar has tasted success with its first Asian syndicated loan attracting enough demand for it to raise $330m after exercising a $25m greenshoe.

    • 20 Jun 2017
  • Safetykleen launches another LBO to red hot market

    Safetykleen Europe, the surface treatment and chemical application services provider, has led a group of smaller new money deals to market this week. It held a bank meeting on Wednesday in London for its €455m seven year term loan ‘B’, backing Apax’s buyout from Warburg Pincus.

    • 19 Jun 2017
  • Dongying Lufang smelts $200m refinancing

    Dongying Lufang Metals Material HK has rolled out a $200m syndicated deal with two mandated lead arrangers and bookrunners. It is looking to refinance a one year loan from last year that falls due soon.

    • 19 Jun 2017
  • Zhuhai Holdings back after two-year gap for HK$1.5bn

    Transport and tourism services provider Zhuhai Holdings Investment has returned to the syndicated loan market after two years for a HK$1.5bn ($192m) borrowing.

    • 19 Jun 2017
  • Three launch $235m loan for SPi Global acquisition

    Invitations are out for a $235m triple tranche loan for private equity firm Partners Group’s acquisition of business process outsourcing company SPi Global.

    • 16 Jun 2017
  • Lenders eye LBO loan for HGC spin off

    Lenders that worked on a HK$4.851bn ($622m) leveraged buyout loan to support MBK Partners and TPG Capital’s acquisition of telecom firm Wharf T&T have thrown their weight behind the same sponsors for a potential bid for Hutchison Global Communications, said bankers.

    • 16 Jun 2017
  • Investors should have trust, says Cinven partner

    At a panel discussion this week, a partner at Cinven said investors should trust sponsors to act responsibly, despite protection for debt investors disappearing in deal documentation.

    • 15 Jun 2017
  • Belmond, Kuoni enjoy market travels as Veritas returns

    VFS Global, the visa and passport services division of Kuoni, allocated its euro and sterling loan refinancing package this week, after increasing the euro offering and tightening pricing on both tranches.

    • 15 Jun 2017
  • Taiwanese banks rethink Panamanian syndications

    Panama severed diplomatic ties with Taiwan this week in favour of supporting China, leaving syndicated loans bankers in Taiwan divided about how the move will affect their business, as several Panamanian institutions have tapped Taiwanese bank liquidity for funds in the past. Shruti Chaturvedi reports.

    • 15 Jun 2017
  • Enter Stage Entertainment for €355 div recap

    Dutch musical theatre group Stage Entertainment, producer of shows including The Lion King and Mamma Mia!, debuted in the leveraged finance market this week for a €355m term loan to pay a dividend recapitalisation to sponsor CVC, after the latter’s majority investment in the firm in 2015 was unusually an all equity deal.

    • 14 Jun 2017
  • Essence International out for HK$1bn dual trancher

    Chinese firm Essence International Financial Holdings has approached lenders for a HK$1bn ($128m) borrowing.

    • 14 Jun 2017
  • Elis plans over £1.3bn of debt for Berendsen acquisition

    French laundry services firm Elis has signed a bridge facility with two relationship banks for its £2.2bn acquisition of UK competitor Berendsen, having announced it will fund the 63% cash portion of the deal through third party debt.

    • 13 Jun 2017
  • ING appoints new Asia levfin head in SG

    ING Bank has relocated a leveraged finance banker from London to Singapore to head structured acquisition finance and sponsor coverage in Asia.

    • 13 Jun 2017
  • Pakistan signs up 10 for $650m financing

    Pakistan has signed its largest offshore syndicated loan on record, a $650m one year financing, with a group of 10 banks, said sources.

    • 13 Jun 2017
  • Mu Sigma $400m financing bags five commitments

    A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from five banks. Syndication for the deal, which was launched in March, remains open at the sub-underwriter level.

    • 13 Jun 2017
  • Nord Anglia leads leveraged buyout charge into loans

    A slew of event-driven deals were launched into the leveraged loan market this week, joining Lindorff’s €3bn high yield offering in electrifying leveraged finance new paper issuance and catching some investors by surprise.

    • 12 Jun 2017
  • GCL-Poly Energy hunts for $200m in syndication

    GCL-Poly Energy Holdings, which makes polysilicon and silicon wafers for solar power generation, has picked two lenders to arrange a $200m fresh money borrowing.

    • 12 Jun 2017
  • Three open books for AL Learning S$178m recap loan

    AL Learning, an education company backed by private equity firm Advent International, has approached banks for a S$178m ($128.8m) loan through three mandated lead arrangers and bookrunners.

    • 09 Jun 2017
  • Asia Broadcast transmits $280m to 14 lenders

    A $280m refinancing for Kingsbridge, the holding company of cable TV service provider Asia Broadcast Satellite (ABS), has been allocated among 14 lenders.

    • 09 Jun 2017
  • ICG to buy DomusVi majority stake from PAI

    ICG has agreed to buy PAI Partners’ controlling stake in DomusVi, following a string of acquisitions at the nursing home operator.

    • 08 Jun 2017
  • Southeast Asia loans show signs of life as FIs lead the way

    A recent flurry of loans from southeast Asia has raised hopes of a stronger third quarter for deal volume following a dismal first half, with borrowers from the consumer sector and FIGs expected to seek financing. While the uptick is more than welcome, a couple of big ticket acquisition-related trades will be necessary to move the needle, writes Shruti Chaturvedi.

    • 08 Jun 2017
  • Stada reduces shareholder acceptance threshold for €4.1bn LBO

    Stada has extended the deadline for acceptance of Bain Capital and Cinven’s €4.1bn takeover offer by two weeks and lowered the acceptance threshold from 75% to 67.5% of all outstanding shares for the deal.

    • 08 Jun 2017
  • IndusInd Bank poised to launch $300m loan

    Indian lender IndusInd Bank is planning to roll out a $300m syndication with four mandated lead arrangers and bookrunners next week.

    • 08 Jun 2017
  • The world looks OK when your pocket’s full of cash

    Corporate bond investors have a bevy of macroeconomic events on their radar screens, with elections and the European Central Bank meeting, but the large piles of cash in their pockets are expected to smooth over any cracks that might appear in the so far solid new issue market.

    • 07 Jun 2017
  • Changes at the top for Deutsche loan syndications team

    Deutsche Bank has made changes to its Asia loan syndications team, promoting Birendra Baid to head up the division, succeeding Amit Khattar who is taking up a broader role.

    • 07 Jun 2017
  • Colisée nurses buyout with €330m loan

    French nursing home operator Colisée launched a €330m seven year term loan ‘B’ this week, backing IK Investment Partners’ buyout of the firm. Faerch Plast, the Danish food packager, meanwhile, has added further to the buyout pipeline.

    • 06 Jun 2017
  • SGB-SMIT markets €590m of buyout loans

    German transformer maker SGB-SMIT launched €590m of loans at a lender meeting on Tuesday, backing One Equity Partners’ buyout of the firm from BC Partners.

    • 05 Jun 2017
  • Beleaguered Huishan Dairy notes discrepancy in cash position

    China Huishan Dairy has found a discrepancy in its cash position, which as at March 31 was much higher than confirmations received from banks, according to a Monday filing.

    • 05 Jun 2017
  • Agile Group raises HK$624m facility

    Chinese real estate developer Agile Group has sealed a HK$624m ($80m) financing with one bank.

    • 05 Jun 2017
  • Fosun dual-currency refi swells to $806m

    Hong Kong-listed Fosun International has hiked the size of its syndicated loan to $806m-equivalent from $650m. The company raised the money in two currencies, with the final deal split between a $673m portion and a €118m tranche.

    • 05 Jun 2017
  • Petron hikes to $1bn amid strong demand

    Allocations are out for Petron Corp’s loan, which was opened to retail participation in late March. The company has absorbed the excess demand that came in during syndication, boosting the deal size to $1bn from $600m.

    • 02 Jun 2017
  • BNP Paribas is sole lead for BIDV $100m dual trancher

    Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is tapping the syndicated loan market for $100m split into two tranches with different tenors.

    • 02 Jun 2017
  • MPM Finance revs up $100m new money borrowing

    Indonesia's Mitra Pinasthika Mustika Finance has returned to the international loan market with a $100m deal, less than a year after signing its last fundraising.

    • 02 Jun 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, in a leveraged loan market just about ticking over.

    • 01 Jun 2017
  • Rump of Kuoni launches €760m of acquisition and refi loans

    VFS Global, Kuoni’s visa and passport services business, has scheduled a lender call next week to market €760m-equivalent of new loans, backing an acquisition and the refinancing of debt.

    • 01 Jun 2017
  • JSW eyes $620m long term loan to support expansion

    Indian company JSW Steel is holding talks with banks for a new fundraising for capital expenditure and refinancing. Although the deal is still in the early stages, the preliminary response shows lenders are inclined to support the firm’s expansion plans, thanks to its sound financial performance and commitment to keeping its leverage within reasonable levels, writes Shruti Chaturvedi.

    • 01 Jun 2017
  • Partners Group picks three for SPi acquisition financing

    Three banks will supply funds to back private equity firm Partners Group's acquisition of business process outsourcing firm SPi Global.

    • 01 Jun 2017