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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
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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A loan that had been in syndication since April from vehicle parts producer Hyva Global has been signed, with a mix of Asian and Western banks and one institutional investor joining. The deal started out at $295m but wound up at a much slimmer $195m after failing to gather steam amid concerns over the industry and the company’s weak sales in slowing China. -
Louis Dreyfus Commodities Asia has sealed its $400m three year revolver, with a group of 38 banks. The loan, which was signed at the end of July, attracted mostly the company’s relationship banks, said a banker at one of the leads.
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Pricing has widened on the £300m sterling cov-lite loan backing Clayton Dubilier & Rice’s acquisition of Motor Fuel Group, the UK petrol station forecourt operator.
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German cable company Tele Columbus is allocating a €435m leveraged loan that backs its acquisition of rival Primacom, setting outs its ambitions for consolidation in the sector.
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UK generic pharmaceuticals company Amdipharm Mercury — also known as AMCo — is closing books on a €163.7m leveraged, having tightened pricing on the back of strong demand.
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A $100m three year offshore syndicated term loan for debutante Mitra Pinasthika Mustika Finance has been oversubscribed. The deal, launched into general syndication in May, is due to close imminently.
