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LevFin CLOs

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  • State-owned Bharat Petroleum Corp has mandated a group of seven banks for its $500m six year financing, which is expected to launch into syndication in early October.
  • Indian company Hexaware Technologies has launched a $215m leveraged loan into general syndication, to help finance its acquisition by Baring Private Equity Asia.
  • Sevan Drilling has closed a chunky $1.75bn five year financing to help fund its acquisition by Norwegian Seadrill, in what was predominantly an Asia-targeted syndicated loan.
  • Indian company Tata Chemicals has ended its five year absence from the loan market, launching a $190m six year loan into general syndication via bookrunners and mandated lead arrangers Crédit Agricole and Mizuho Bank.
  • Philippine Airlines signed and funded its $150m loan on September 30 with a group of five banks, three months after it launched into syndication. More lenders are still eyeing up the deal, with the borrower now looking to use its $50m greenshoe option.
  • HoPing Power is looking for a NT$11bn ($372m) five year loan and is in conversation with banks. Lenders have already submitted their proposals, with a mandate announcement imminent.