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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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The leveraged loan market is increasingly turning to aggressive debt structures reminiscent of the months leading up to the financial crisis of 2008, new data shows. -
German forklift truck maker Kion will call €525m of high yield bonds on April 15. The redemption will be financed with a new €200m bank loan and drawings under Kion’s revolving credit facility.
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French private equity firm Ardian hopes to back its sale of Diana Ingredients with an €800m covenant-lite loan if the company goes to a private equity firm.
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Sports marketing company Dorna Group has mandated three banks to arrange a facility to refinance €715m of debt.
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Astra Sedaya Finance has managed to more than double the size of its loan to $670m from the launch size of $330m, gathering a stellar response from lenders thanks to the company choosing to do a targeted syndication. The final deal size has surpassed that closed last year by sister company Federal International Finance, which used a similar strategy, with even bankers on the loan surprised by the tremendous market interest.
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Maldives has once again hit bankers’ radars after private equity firm Blackstone sealed a $150m loan last week, refinancing the funds it took less than a year ago to buy stakes in two seaplane operators in the island nation.
