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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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Ista, the German metering business, launched the high yield bond portion to finance its takeover by CVC on Friday. The deal announcement pushed the number of marketed deals in the European high yield market this week to 18.
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Indonesia Eximbank’s $500m three year loan has been opened up to lenders in general syndication, with banks having the option of joining the deal at two different levels.
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A €1.15bn term loan ‘B’ supporting CVC Capital Partner’s buy-out of German metering company Ista International has been launched into syndication. The buy-out, the largest German private equity deal in five years, will be backed by €2.325bn of senior secured bank debt, senior secured high yield bonds and senior unsecured high yield bonds.
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Jindal Steel and Power’s $400m five year loan has been opened up to lenders wanting to join at the mandated lead arranger level, and has already caught the attention of banks looking for big tickets.
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Bank of Taiwan has opened Jih Sun International Leasing and Finance’s NT$2bn ($67.1m) loan for syndication, and expects strong demand from domestic lenders.
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Klöckner Pentaplast sold its twice-increased PIK toggle notes a day early on Wednesday. The German maker of plastic film and packaging priced €225m of the high yield bonds on May Day instead of the initially planned €150m.