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LBO financing includes $5.75bn term loan to be priced early next week
Investors eye 2028, 2031, 2032 as big years for loan maturities
Even leveraged deals still being underwritten, though banks are selective
Liquidity event at American manager comes at fraught time for industry
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Large leveraged buyouts may be set for a return to Europe’s leveraged finance market following a lengthy sojourn. Stada, the German generic pharmaceuticals firm, this week said it was fielding numerous buyout offers worth around €3.5bn, offering investors the respite from relentless repricings that they have craved for several months. Max Bower reports. -
HSBC is overhauling the leadership of its leveraged and acquisition finance and sponsor coverage teams in Asia Pacific, with some senior changes taking place this week. While sources emphasised this does not signify a retreat, the moves have put a focus on what some consider a somewhat “static” job market for acquisition and leveraged finance in the region. Shruti Chaturvedi reports.
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Blackstone has bought a majority stake in London-based cloud software firm Cloudreach, adding further to its existing queue of European buyouts waiting to be financed.
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Chinese digital map provider NavInfo has hit the syndicated loan market for €110m to fund its acquisition of a stake in a European target.
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The repricing train steams on in European leveraged loans, although several buyouts are coming down the track, offering new paper and the promise of some yield to desperate investors.
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Chinese property developer Yanlord Land Group is poised to return to the loan syndications market with a $600m deal that will refinance a $385m borrowing raised in 2014.
