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Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
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French nursing home operator Colisée launched a €330m seven year term loan ‘B’ this week, backing IK Investment Partners’ buyout of the firm. Faerch Plast, the Danish food packager, meanwhile, has added further to the buyout pipeline. -
German transformer maker SGB-SMIT launched €590m of loans at a lender meeting on Tuesday, backing One Equity Partners’ buyout of the firm from BC Partners.
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China Huishan Dairy has found a discrepancy in its cash position, which as at March 31 was much higher than confirmations received from banks, according to a Monday filing.
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Chinese real estate developer Agile Group has sealed a HK$624m ($80m) financing with one bank.
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Hong Kong-listed Fosun International has hiked the size of its syndicated loan to $806m-equivalent from $650m. The company raised the money in two currencies, with the final deal split between a $673m portion and a €118m tranche.
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Allocations are out for Petron Corp’s loan, which was opened to retail participation in late March. The company has absorbed the excess demand that came in during syndication, boosting the deal size to $1bn from $600m.
