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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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Leveraged loans bankers have welcomed a €7.5bn loan to finance DE Master Blenders’ merger with the coffee business of Mondelez International. But big deals alone don’t make the market, and lenders are growing increasingly concerned about the lack of deal flow among mid-market borrowers. -
Bayer - Gemini - Grafton - QSC - Lemminkäinen - Ion Trading - Saga
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Narendra Modi’s decisive victory in the race to become India’s next prime minister led to a jubilant rally in the equities market and a sharp tightening in bonds. Loans bankers now hope to get their own taste of the euphoria — in the form of a vigorous loosening of the restrictions on offshore debt that would help ease the way for more borrowers to raise US dollar loans, writes Rashmi Kumar
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Saga, the UK provider of holidays and other services for the over 50s, will use proceeds from its IPO on Thursday to pay off £550m of loans signed in April.
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Coal miner Adaro Energy Indonesia is seeking a loan of up to $1.25bn to refinance outstanding debt, as part of its measures to deleverage its balance sheet.
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Indian mining firm Vedanta Resources has signed up three lenders to provide it with $1bn via two separate facilities, having started talks with banks for a loan of between $500m and $1.2bn two months ago.
