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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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New York-headquartered Multi Packaging Solutions allocated its multi-currency term loan refinancing late on Tuesday afternoon, with several more deals scheduled to have followed this week. -
Sri Lankan commercial lender Sampath Bank has wrapped up its latest fundraising at $100m, fully using a $50m greenshoe on the back of demand from Middle Eastern and Indian lenders.
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Seven banks subscribed to a $297m loan for Blackstone’s acquisition of Indian fintech firm Mphasis during general syndication. The deal was initially conceived as a $405m facility but the amount was reduced after an open offer.
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Specialty chemical manufacturer Platform and Irish telecom firm Eir both launched major refinancings this week, looking to tap into a market where nearly everything on offer is being tightened from initial guidance.
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Ufinet has tightened price guidance on a €124m dividend recapitalisation term loan, while increasing the offering to €135m, as Ammeraal Beltech’s €85m dividend recap also tightened from initial guidance this week.
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A number of Asian borrowers are choosing to prepay their syndicated loans for various reasons, including a bearish outlook on growth. Their actions are compounding the woes of loan syndications bankers, who are already battling low deal activity, writes Shruti Chaturvedi.
