Leveraged Loans - All Articles

  • Hangzhou Steam Turbine seeks $100m

    Hangzhou Steam Turbine & Power Group is seeking a new $100m offshore borrowing.

    • 29 Jun 2018
  • H&H seeks $350m borrowing through Goldman

    Health and Happiness International Holdings, previously known as Biostime International Holdings, is seeking an up to $350m loan through Goldman Sachs.

    • 29 Jun 2018
  • Issuance window wide open, but investor concerns rise

    Borrowers in the European leveraged finance markets seem to be keen to bring deals before investors' mood sours much further.

    • 27 Jun 2018
  • SC Lowy looks to develop DCM after Italian buy

    SC Lowy co-founder and CEO Michel Löwy talks to GlobalCapital about developing a DCM business, Italy and entrepreneurship.

    • 27 Jun 2018
  • Thomson Reuters, Techem to raise new €9bn lev loan deals

    The European leveraged loan market is starting to look a lot like it did in May, with a table full of multi-billion deals and bankers concerned about how much this spike in issuance could play into investors’ hands.

    • 26 Jun 2018
  • VPBank Finance closes $185m borrowing

    VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, has closed its loan at $185m with 13 participants joining during syndication.

    • 22 Jun 2018
  • BIDV opens $300m syndication through Cathay

    Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is making a quick return to the loan market for an up to $300m fundraising.

    • 22 Jun 2018
  • Could bond buyers strike to force climate action?

    A new drive to encourage bondholders to "engage" with issuers — jargon for asking them to improve their behaviour — is set to be started by a well known corporate bond investor who has joined an NGO.

    • 21 Jun 2018
  • SkyCo International seeks $300m debut loan

    China’s SkyCo International Financial Leasing is tapping the offshore loan market for the first time.

    • 21 Jun 2018
  • CP Indonesia plans price cuts on two loans

    Poultry feed producer Charoen Pokphand Indonesia is talking to the lenders on two of its offshore borrowings sealed in 2014 and 2015, to cut pricing, several bankers said this week.

    • 20 Jun 2018
  • Investor confidence fuels issuers’ return to Europe levfin marts

    A parade of deals and jumbo offerings marched through the European leveraged finance markets this week, matching a buoyant mood among investors.

    • 20 Jun 2018
  • Jumbos back in lev loan market with BMC buyout

    BMC Software, the US IT firm, has revealed the loan leg of the funding for its leveraged buyout by KKR, a $4.4bn facility in dollars and euros. It is the first multi-billion leveraged loan deal for four weeks, after a battery of large offerings early in May.

    • 19 Jun 2018
  • MGM Grand amends and extends HK$23.4bn loan

    Macau’s casino operator MGM China and subsidiary MGM Grand Paradise have amended and extended credit facilities signed in 2012 for the second time.

    • 19 Jun 2018
  • TI Automotive grows loan to quit high yield bond mart

    UK car parts maker TI Group Automotive Systems, owned by Bain Capital, wants out of the high yield bond market and is planning to redeem its only issue by increasing its term loans.

    • 18 Jun 2018
  • PetSmart downgraded by S&P after Chewy transfer

    S&P Global Ratings knocked a notch off pet food retailer PetSmart’s corporate credit rating on Thursday, citing the firm’s ‘unsustainable’ capital structure and the increased risk of a distressed debt exchange after a portion of its subsidiary Chewy was transferred to private equity sponsors.

    • 14 Jun 2018
  • MGM set to refi, media firms ramps content production

    Metro-Goldwyn-Mayer (MGM), which controls the distribution of movies and TV content such as the James Bond franchise and The Handmaid’s Tale, is in the market with a new $2.5bn refinancing package this week, as traditional US media companies ramp up their borrowing to fund new content to compete with new competitors such as Netflix.

    • 13 Jun 2018
  • US high yield in dry spell as loans race on

    Just one issuer had tapped US high yield investors by Thursday this week, following the quietest May since 2010 and with leveraged loans now outweighing high yield bonds for the first time since 2008.

    • 12 Jun 2018
  • Innogy conundrum challenges green bond market to find its purpose

    Does it matter if a green bond becomes separated from the green assets that underlie it? The link keeps the issuer honest — but shouldn’t the green bond market be doing more than that?

    • 12 Jun 2018
  • Casino plots €1.5bn asset sale

    French supermarket group Casino has announced a €1.5bn asset disposal plan, which should take pressure of holding company Rallye’s bonds. The asset sales are an attempt to deleverage amid sharp volatility in the company’s shares.

    • 12 Jun 2018
  • France to set higher bank capital buffers amid corporate debt boom

    French banks will have to comply with a countercyclical capital buffer requirement as a means of promoting financial stability amid a rapid increase in corporate debt levels.

    • 12 Jun 2018
  • Wilmar raises $200m sustainability loan from OCBC

    Singapore’s Wilmar International has raised a $200m sustainability-linked loan, the second of its kind from the agribusiness company in seven months.

    • 12 Jun 2018
  • LMA slams EU rule proposal on loan sales to non-banks

    A new proposed European Parliament and Council directive aimed at non-EU lenders and non-bank institutions will cause “significant uncertainty and disruption” to the primary and secondary syndicated loan markets, the Loan Market Association has warned.

    • 11 Jun 2018
  • Unilabs probes hungry lev loan market for chunky add-on

    Medical diagnostics firm Unilabs launched a benchmark size extension of its loan debt on Monday, as a range of investors clamour for paper despite issuance volumes running ahead of last year’s record pace.

    • 11 Jun 2018
  • High yield ETF loses 40% of assets after Charles Schwab switch

    The iShares 0-5 Year High Yield Corporate Bond exchange traded fund (SYHG), which tracks short dated US high yield credit, has unwound almost 40% of its asset base in the last week and a half after investor Charles Schwab pulled its money to put into another high yield fund.

    • 08 Jun 2018
  • Cambodia’s Prasac bumps up loan to $100m

    Cambodia’s Prasac Microfinance Institution has decided to increase the size of its loan to $100m after receiving commitments from 14 lenders to the oversubscribed deal, according to a banker close to the situation.

    • 08 Jun 2018
  • Tata Motors seeks $250m loan for bond buy-back

    India’s Tata Motors is seeking an up to $250m loan to buy back bonds that are due in 2020.

    • 08 Jun 2018
  • Hengtong debuts with $100m offshore loan

    Chinese optical fibre developer Hengtong Group has hit the international loan market for the first time for a $100m fundraising.

    • 08 Jun 2018
  • Bond pain could become loan market’s gain

    The age-old debate of loans versus bonds has picked up pace amid turbulence in the debt capital markets, as banks and borrowers in Asia try finding the most suitable funding options, writes Pan Yue.

    • 07 Jun 2018
  • Deutsche’s European corp fin victory plan unravels as Warren exits

    Deutsche Bank’s head of corporate finance EMEA, Alasdair Warren, has become the highest profile casualty of new CEO Christian Sewing’s cost-cutting drive, after failing to re-establish Deutsche at the summit of the European corporate finance rankings.

    • 06 Jun 2018
  • Leveraged finance appetite returns after Italian scare

    Demand for leveraged debt in Europe is slowly recovering after weeks of heightened political volatility in the eurozone, some investors said this week.

    • 06 Jun 2018
  • US banks underwrite £1.65bn for DS Smith purchase

    DS Smith, the UK packaging company, has offered to buy Spanish rival Europac, with £1.65bn of financing underwritten by US banks already prepared for the transaction.

    • 05 Jun 2018