Citi

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust (Reit) is preparing an IPO of new and existing stock, set to be just the second listing from the asset class in India.

TrailStone Group, the gas and power trader and investor based in London, has closed the year with a €150m revolving credit facility, which complies with the Green Loan Principles.

Karolina Burmeister has been appointed country head for Finland at Citigroup.

Citi has named Adrian Khoo and Benjamin Ng as co-heads of debt capital markets for Asia, a move that will see more integration of the bonds and loans teams.

In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out which firms have been named the Best Asian Investment Bank and the Best Investment Bank in the region for 2019.

Lenovo Group, one of the world’s largest computer and electronics makers, lost a long time financing partner when IBM decided to close its factoring operation for hardware equipment manufacturers in February, GlobalCapital can reveal. But Lenovo moved fast to replace this with one of the largest trade receivables securitizations ever signed. The $3bn deal included selling junior notes to three investors to maintain full off balance sheet treatment for the assets and debt.

A €200m bond add-on for UK-based car maker Jaguar Land Rover, announced on Tuesday, follows €800m of unsecured notes issued in mid-November. Jaguar was drawn to a balmy post-election market that rewarded it with favourable pricing and encouraged it to increase the deal.

Investors gobbled up a high yield bond offering by US plastic packaging company Berry on Thursday, encouraging the company to increase the size twice, eventually reaching over €1bn. Berry is the only speculative grade company to issue a major bond this week in Europe, as most issuers stayed away from a market anxious about the UK general election.

Investec has entered the loan market for the third time this year, taking a $450m two year term loan from a range of international lenders.

Sprawling e-commerce company The Hut Group completed a €600m term loan 'B' deal on Tuesday, changing its capital structure. The privately held company — touted as one of the few UK tech unicorns — has expansion ambitions in both online stores and web services, but is also making risky excursions into real estate.

Another packaging company is hunting for better financing terms in the issuer-friendly European high yield bond market. Berry Global follows companies such as Crown, Ball, Smurfit Kappa, Owen-Illinois and Ardagh with an ambitious refinancing that could be priced as early as Thursday — the day of the UK general election.

The Netherlands’ Prosus has raised its takeover offer for food delivery firm Just Eat to around £5.1bn. It has brought in a host of banks to finance the bridge facility, but the boss of opposing bidder Takeaway.com called Prosus' bid “derisory”.