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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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Webhelp, the French call centre operator, intends to add €120m to an existing €275m loan from June 2013. -
Chinese property companies are taking syndicated loans by storm, having been among the bond market's most active players for the past two years. Nearly a dozen developers have approached banks for offshore loans in the last two weeks. But bleak sentiment around the sector and concerns about credit quality mean loans bankers are taking a wait-and-see approach, writes Rashmi Kumar.
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ECM Asset Management, the London-based investment firm owned by Wells Fargo, expects to secure final approval this month to begin committing money to leveraged loans in its multi-asset class funds.
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M7 Group, the Luxembourg satellite and online TV broadcaster, will allocate a €110m ‘C’ tranche on Thursday to expand an existing loan.
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With the World Cup under way, football is also making headlines in the loan market. Two Indonesian tycoons sealed a €230m ($311.9m) loan this week as part of their purchase of a 70% stake in Inter Milan.
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Chinese car dealer Baoxin Auto Group got into gear for its $150m three year term loan on Wednesday, pricing the deal at 370bp over dollar Libor.
