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A slow destruction of misallocated investment is more likely than a sudden stop
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
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LBO financings in 2014 showed that aggressive levels of leverage are achievable in Asia and that banks are getting more comfortable when it comes to Chinese holdco structures. But volumes remain low despite these developments, as a lack of precedents and a diverse regulatory backdrop pose big challenges to the evolution of the sector, writes Shruti Chaturvedi. -
The Development Bank of Mongolia, whose loan has been in the works since July this year, has finally wrapped it up at a larger size of $300m.
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Indonesia’s Sarana Multi Infrastruktur has wrapped up its debut $150m syndicated loan, raking in commitments from a total of 18 lenders across the various ticket levels.
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Chinese consumer electronics appliance maker Haier International has launched its $250m loan into general syndication after just a few days in senior. But the short time to gather banks at the top level was still more than enough with three banks joining during the senior phase.
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GTech, the Italian gambling equipment maker, has further reduced its bridge facility for the acquisition of US competitor International Game Technology (IGT), to $6bn.
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Moody’s has downgraded the corporate rating of Spie, the French engineering and communications services firm, from B1 to B2 in response to a €2bn refinancing exercise.
