Leveraged Loans - All Articles

  • Banks drink up Emperador’s €405m loan

    Philippine brandy making company Emperador has closed a €405m borrowing with 13 lenders in the syndicate.

    • 29 Nov 2019
  • People moves in brief

    • 28 Nov 2019
  • Inside BNPP’s ‘industrialisation’ revolution

    Amid signs of progress, BNP Paribas faces challenges to deliver on its radical transformation plan, writes David Rothnie.

    • 28 Nov 2019
  • HDFC Bank subsidiary debuts with $300m loan

    HDB Financial Services, an Indian non-banking financial company under HDFC Bank, has launched its maiden $300m international loan into syndication.

    • 28 Nov 2019
  • The Hut Group turns on charm with its first Term Loan B

    Beauty-focused e-commerce company The Hut Group (THG) is building up its war chest with a £510m-equivalent Term Loan B issue. The fully underwritten issue will test the investors’ interest in the sprawling, privately-held company with ambitions in both online stores and tech services, with risky side trips to real estate.

    • 26 Nov 2019
  • Permira Debt Managers underlines private debt risk with jump to default

    Permira Debt Manager’s Credit Solutions II fund, a direct lending fund raised in 2015, underlined the risk of concentration in private debt funds, thanks to a sharp downgrade of the fund’s largest exposure, making up 17% of its assets.

    • 26 Nov 2019
  • Direct lending no threat to syndicated debt

    Direct lending funds have raised more money than ever this year, and are writing ever bigger cheques in the sort of investments usually done by broad syndication. However, in all but a handful of cases, syndicated financing is the better option.

    • 26 Nov 2019
  • DNB boosts leveraged finance operation

    DNB Markets has hired a banker from UniCredit to join its leveraged finance team in London.

    • 25 Nov 2019
  • UBI’s head of M&A goes to Nomura

    Francesco Bertocchini has joined Nomura from UBI Banca as a managing director for Italy.

    • 25 Nov 2019
  • Parliament fights for say on Taxonomy’s transition thresholds

    The European Parliament is challenging EU member states over the governance of its planned Taxonomy of Sustainable Economic Activities. At stake is who gets to decide what goes into it. The issue is one of several still to be thrashed out before the Taxonomy can become law.

    • 22 Nov 2019
  • Citi gives Yageo $1.1bn bridge loan for Kemet buy

    Taiwanese electronic component company Yageo Corp has received a chunky $1.1bn bridge loan to support its acquisition of Kemet Corp, a US-based company in the same industry.

    • 21 Nov 2019
  • Companies irk investors with aggressive spread tightening

    Investment grade companies are rushing to Europe's bond market in the last major issuing window of the year, but fatigue is setting in and investors are expected to start kicking back on large spread movements during execution.

    • 20 Nov 2019
  • Natixis takes telecoms trio

    Three bankers have recently joined Natixis’s telecom industry group. Two are in Paris and one is in Singapore.

    • 20 Nov 2019
  • ‘Fleabag’ producer aims to reprice loan from May

    UK TV production company All3Media followed French insurance broker April in attempting to improve pricing on a loan signed just six months earlier, opportunistically looking to lock in a tighter margin before the market closes for the year.

    • 19 Nov 2019
  • EQT Credit injects cash, takes control of Bartec

    EQT Credit has become the largest shareholder in former Charterhouse portfolio company Bartec, injecting €80m of new money alongside other creditors as part of the restructuring of €280m of debt at the Austrian explosion protection specialist — its second restructuring in three years.

    • 18 Nov 2019
  • Bank of Ireland opens new levfin office in Madrid

    Bank of Ireland has opened a Madrid office for its leveraged and acquisition finance business, to be headed by Beltran Paredes, the former head of Rothschild’s debt advisory business in Spain.

    • 18 Nov 2019
  • Nomura plucks Petermann for FIG and real estate

    Rolf Petermann, a former FIG banker at Société Générale, has been hired by Nomura.

    • 15 Nov 2019
  • People moves in brief

    Del Canto joins Berman at agora — O'Higgins to retire from ICBC Standard — Miller becomes new IBCM head at Credit Suisse

    • 14 Nov 2019
  • Fitch hires levfin banker for biz dev unit

    Fitch Ratings has hired a former leveraged finance banker at MUFG to join its EMEA business development team.

    • 14 Nov 2019
  • CVC-owned April preps rapid refi

    French insurance brokerage April, a CVC portfolio company, has returned to the leveraged loan market to refinance the acquisition debt it raised in April, taking advantage of squeezed credit spreads and the expiry of its six month call protection.

    • 14 Nov 2019
  • Commerzbank set to double down on Mittelstand and existing clients

    Commerzbank’s corporate clients division will focus on small and medium-sized enterprises (SMEs) and cross-selling over pure growth, as it continues with its latest strategic plan.

    • 14 Nov 2019
  • Bankers gear up for more LBO loans from India

    Private equity firms have found plenty of investment opportunities in India this year, with their focus on the country set to increase as the crisis around non-banking financial companies unfolds. This means that leveraged loans bankers are getting ready for more action, writes Pan Yue.

    • 14 Nov 2019
  • Del Canto returns to capital markets at Berman's agora

    Fabianna Del Canto, who recently left Barclays, has joined agora, the capital markets fintech founded by fellow Barclays veteran Charlie Berman.

    • 14 Nov 2019
  • Crédit Agricole chooses new head of global DCM

    Crédit Agricole has chosen a new global head of debt capital markets.

    • 13 Nov 2019
  • CS hires Deutsche’s von Schwedler for healthcare

    Credit Suisse has chosen a banker from Deutsche Bank to co-lead its healthcare team in Europe, the Middle East and Africa.

    • 13 Nov 2019
  • GlobalCapital’s Loan Awards poll closes on Friday!

    GlobalCapital’s poll to determine our Syndicated Loan and Leveraged Finance Awards 2019 will close on Friday. We would be delighted if you would take this opportunity to pick the deals and firms that have made the most difference to loan markets in 2019. We remind you that an institution cannot win a category it hasn't voted on.

    • 13 Nov 2019
  • Adani, Total seek $600m loan for LNG project

    India’s Adani Ports and Special Economic Zone (APSEZ) and French oil and gas company Total are jointly raising a $600m loan for a gas project in the south Asian country. Eight banks have already formed the senior lending group, with the leads now seeking commitments in general.

    • 13 Nov 2019
  • Mediobanca plots advisory, mid-cap push

    Mediobanca’s plan for the next four years involves boosting advisory origination and using capital more efficiently in its corporate and investment bank (CIB). It is also committed to issuing a sustainability themed bond.

    • 12 Nov 2019
  • JP Morgan picks Brina to cover the basics

    Antonio Brina is joining JP Morgan from Bank of America Merrill Lynch to lead basic materials investment banking for Europe, the Middle East and Africa.

    • 12 Nov 2019
  • CS’s Amine goes to private credit, Miller takes over

    David Miller has become the new chief executive of Credit Suisse’s investment banking and capital markets (IBCM) unit, replacing James Amine.

    • 11 Nov 2019
  • Baring eyes $265m loan for CitiusTech takeover

    Baring Private Equity Asia is seeking a $265m loan to support its acquisition of India’s CitiusTech.

    • 08 Nov 2019
  • Vingroup launches $500m into general syndication

    Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have launched a $500m loan into general syndication, after one bank joined at the senior stage.

    • 08 Nov 2019
  • Stada preps buyout loan for Walmark and Takeda

    German pharmaceutical firm Stada is seeking €760m in new secured debt to finance recent acquisitions in eastern Europe, with Nomura leading a new senior secured term loan.

    • 07 Nov 2019
  • Owens-Illinois brings green HY issue

    Ohio-based glass manufacturer Owens-Illinois (O-I) sold a euro-denominated green HY issue through BNP Paribas on Thursday, adding to the tiny clutch of leveraged credits to target deals at ESG-oriented investors — and locking in a storming result, with a size increase from €300m to €500m and pricing through the tight end of the initial range.

    • 07 Nov 2019
  • ING names new global acquisition finance head

    ING has appointed Martjin Bruins as global lead of its structured acquisition finance unit, alongside his existing role as head of the unit in London for origination.

    • 07 Nov 2019
  • Investment banks fly south to beat M&A winter

    A slump in big deals and a quest for fee growth is pushing the big banks into mid-market M&A to an extent that has not been witnessed before, writes David Rothnie.

    • 06 Nov 2019
  • SDCL buys Spanish power portfolio for €150m

    The UK’s SDCL Energy Efficiency Income Trust has completed a €150m debt-backed acquisition of a portfolio of energy generation projects plus debt in Spain, in the company’s largest acquisition since its IPO a year ago.

    • 06 Nov 2019
  • Corporate roadshows pile up as ECB keeps lid on spreads

    A steady flow of deals is running through the investment grade corporate bond pipeline and out into the market. This is expected to become a deluge before long, as investors’ inboxes are filling up with roadshow invitations.

    • 06 Nov 2019
  • KKR stacks up dry powder with monster new fund

    KKR announced has closed its European Fund V, a €5.8bn vehicle looking for deals in western Europe. The company’s EMEA private equity funds are investing a combined $11.6bn at the moment, meaning the new fund offers a huge increase in firepower.

    • 05 Nov 2019
  • Blackstone’s Essel loan allocated among 16 lenders

    The $166.3m loan to support Blackstone Group’s Essel Propack acquisition has been oversubscribed, with 10 participants joining during general syndication.

    • 04 Nov 2019
  • Adira Dinamika seeks second loan of 2019

    Adira Dinamika Multi Finance, an Indonesian motor vehicle financier, is making a quick return to loans, seeking its second offshore borrowing this year.

    • 01 Nov 2019