Leveraged Loans - All Articles

  • Hotelbeds in head-to-toes refinancing

    Majorcan travel services operator Hotelbeds has announced a repricing of all its loan debt, continuing a wave of margin cutting that investors have little choice but to support.

    • 31 Oct 2017
  • Four sign up for China Modern Dairy's $300m loan

    A group of four lenders has joined a $300m loan for China Modern Dairy during general syndication. The newcomers were not scaled back from their initial commitments.

    • 31 Oct 2017
  • Cinven picks Spanish berry producer Planasa

    After 130 years as a family business, Navarra-based berries producer Planasa sold a majority stake to private equity firm Cinven on Monday, in a €450m deal.

    • 30 Oct 2017
  • I Squared connects with 32 banks for $914m LBO loan

    Allotments are out for a HK$7.137bn ($914.7m) loan that to support private equity firm I Squared Capital’s acquisition of Hutchison Global Communications (HGC).

    • 27 Oct 2017
  • Webhelp clicks market for tighter margin

    After a stream of successful repricings in the leveraged loan market this week, French call centre operator Webhelp is set to refinance its term loans for the second time this year and could shave a further 25bp off its financing costs, according to sources.

    • 26 Oct 2017
  • Refreshed Taiwan banks give lift to aircraft loans

    The return of Taiwanese bank liquidity to the Hong Kong and China dollar loan market is proving a boon for borrowers seeking funds for riskier deal structures. Aviation leasing companies looking for aircraft pre-delivery funding have been emboldened in particular. CMIG Aviation is the latest of that bunch to dip its toes into the offshore market, writes Shruti Chaturvedi.

    • 26 Oct 2017
  • Early birds pick WorkWave LBO loans

    Industrial & Financial Systems (IFS) closed the loan funding for its acquisition of WorkWave without further syndication on Wednesday, evidence the market is still keen on small size offerings amid a raft of large deals.

    • 25 Oct 2017
  • Rosy look for Ineos margin shave

    Ineos, the Anglo-Swiss chemicals manufacturer, cut costs on its term loans for the second time this year on Tuesday, after S&P joined Moody's in upgrading the rating of the new facility on Monday.

    • 25 Oct 2017
  • Delta Dunia spins $150m fresh money loan

    Four banks have launched a $150m two tranche senior secured loan for Indonesian textile company Delta Dunia Tekstil (DDT). The company will use a portion of the funds for a new project in Java, Indonesia.

    • 25 Oct 2017
  • US leveraged lending was already loose

    The investigative arm of the US Congress has told US regulators that the leveraged lending guidelines should be open to review. But this is nothing new — borrowers have been acting as if they are open to interpretation for some time.

    • 24 Oct 2017
  • China XD Plastics returns for $300m two year

    Nasdaq-listed China XD Plastics Co is in the loan market for a $300m financing, returning one year after signing its last deal.

    • 20 Oct 2017
  • Sponsors business surges back to pre-crisis boom levels

    Big ticket European take-privates are back, evoking memories of the last buy-out boom, writes David Rothnie. Will it be different this time?

    • 19 Oct 2017
  • Wanda smarts as downgrades trigger loan repayments

    Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

    • 19 Oct 2017
  • Teva unit to inject CVC’s LBO loans soon

    The non-US women's health unit of Israel’s Teva Pharmaceutical Industries is mulling the option of issuing its first term loans in euros to fund its buyout by private equity firm CVC.

    • 18 Oct 2017
  • Investors stay with corporate credit despite extreme tightness

    Seven of the eight benchmark investment grade corporate bonds to have been priced in euros in the last fortnight have been from utilities. And longer dated utility bonds were also among the best performers in the third quarter.

    • 18 Oct 2017
  • Wang takes over China Minsheng HK's loans team

    There has been a change in leadership of the loan syndications department at China Minsheng Bank in Hong Kong, according to sources close to the matter.

    • 18 Oct 2017
  • Danske Bank scoops up loan sales VP from ING

    Danske Bank has hired a new director for its loan syndications team in London, who was previously a vice-president on ING.

    • 17 Oct 2017
  • 3i inaugurates US infrastructure branch with majority stake in Smart Carte

    UK-based private equity firm 3i has made its first investment in the US infrastructure sector, it said on Monday. It has acquired Minnesota’s Smarte Carte, an equipment vendor for the travel and leisure industry.

    • 16 Oct 2017
  • CVC goes Dutch with two unitranches

    CVC has made two unitranche loans in the Netherlands, to Voogd & Voogd and Berning, amid busy activity in leveraged debt markets of all kinds.

    • 13 Oct 2017
  • ChemChina in talks for $5.5bn two tranche refinancing

    China National Chemical Corp (ChemChina) has approached banks for a $5.5bn two tranche borrowing to help refinance a $12.7bn acquisition loan signed last September.

    • 13 Oct 2017
  • Inovyn’s 225bp margin stuns lev loan mart

    Chlorvinyls firm Inovyn, a subsidiary of chemicals group Ineos, was on course to shave 150bp from its 2024 term loans in a repricing on Thursday. But market participants warned that the trade betrays signs of a lack of discipline in the market.

    • 12 Oct 2017
  • Asian loans bankers weigh up cornerstone support

    Cornerstone investors are becoming increasingly common in overseas loan syndications, especially those involving Indian borrowers. While some may argue that this goes against the true purpose of syndication, which is to spread risk, loans bankers believe the change is for the better as it introduces borrowers to sturdy lenders for future funding needs. Shruti Chaturvedi reports.

    • 12 Oct 2017
  • Catalonia: ‘Markets fear violence, not our independence’

    Bond markets remain sanguine about the declaration of independence by Catalonia's president Carles Puigdemont on Tuesday, but that could change sharply if Spain clamps down with force.

    • 11 Oct 2017
  • ABN Amro hires former IKB director for new levfin role in Germany

    Dominik Felsmann has landed a job at ABN Amro as head of leveraged finance Germany. The bank has also named Arjan Van Rijn as global head of leveraged finance origination.

    • 10 Oct 2017
  • UPC and Belron bring €1bn-plus loans as multi-currency leveraged deals surge

    UPC Holding, the telecoms company owned by Liberty Global, and UK car glass specialist Belron announced multi-currency term loan offerings on Tuesday.

    • 10 Oct 2017
  • Tata Motors mandates for $850m refi

    Tata Motors has enlisted six banks for a $850m refinancing exercise that will consolidate two earlier borrowings.

    • 10 Oct 2017
  • Final allotments out for Aster DM Healthcare loan

    The final allocations are out for a $295m multi-tranche facility for Aster DM Healthcare. The loan, which contains tranches with tenors of up to 10 years, attracted a mix of Middle Eastern and Indian banks.

    • 10 Oct 2017
  • DomusVi bags 325bp margin for LBO loan amid repricings

    Europe’s leveraged loan market was set for more than €4bn of offerings this week, as borrowers revel in friendly pricing conditions. Large facilities such as the €1bn loan for DomusVi that was launched on Monday could achieve the tightest prices, said bankers.

    • 09 Oct 2017
  • Yanggu Xiangguang plots $100m financing

    Yanggu Xiangguang Copper has rolled out a $100m syndicated loan with one lender leading the deal.

    • 09 Oct 2017
  • Altice and SFR dial in jumbo levloans

    The leveraged loan market is showing no sign of slowing after a September filled with jumbo deals as French telecoms companies Altice and its subsidiary SFR join the fray with transactions of more than €1bn.

    • 05 Oct 2017
  • Football clubs eye return to funding mainstream

    Football clubs have become revenue generating machines, and with the English Premier League set to ban clubs from borrowing from non-Financial Conduct Authority regulated institutions starting next year, GlobalCapital investigates how some of the Premier League’s biggest teams fund their operations.

    • 05 Oct 2017
  • Corialis and Tekni-Plex chip away at margins

    Leveraged borrowers turned the pricing screws on lenders on Thursday with Belgium’s Corialis looking to shave off a combined 125bp off existing loans while US firm Tekni-Plex has reversed flexed its dollar and euro facility.

    • 05 Oct 2017
  • Corialis boards term loan repricing bandwagon

    Belgium’s Corialis Group has launched a repricing attempt on €627m-equivalent of loans as the aluminium building systems company seeks to become the latest in a long line of price amendment exercises to hit the market.

    • 04 Oct 2017
  • Investors seek right names to eke out further tightening

    German Unity Day and Golden Week in Asia have given European corporate bond investors a break from new issues and a chance to consider whether the current tight level of spreads is right or too tight. Many expect more tightening to come, so picking the right sectors and geographies will be the key to performance.

    • 04 Oct 2017
  • Tian Lun Gas fires up HK$1.25bn borrowing

    Hong Kong-listed China Tian Lun Gas Holdings has enlisted two lenders to arrange a HK$1.25bn ($160m) five year loan, invitations for which were sent out this week.

    • 04 Oct 2017
  • Altice and SFR launch similar refis

    Details have emerged on the €3.675bn-equivalent of loans for French telecom companies Altice and its subsidiary SFR, as the companies launched similar refinancing facilities into syndication.

    • 03 Oct 2017
  • Tata Motors reaches out to lenders for $850m refi

    India's Tata Motors has put out feelers with its relationship banks for a new borrowing to refinance $850m of syndicated loans.

    • 03 Oct 2017
  • Lev loan market begins month with dual jumbos

    The leveraged loan market is showing no sign of slowing after a September filled with jumbo deals as Altice and SFR join the fray with transactions of over €1bn.

    • 02 Oct 2017
  • HSBC to bring in new head of high yield

    HSBC has poached a senior banker from Bank of America Merrill Lynch to be its head of high yield syndicate, a source familiar with the matter has confirmed to GlobalCapital.

    • 02 Oct 2017