Loans and High Yield

Following the launch of as many as 10 transactions this week targeting a total of €4.7bn, the high yield market is close to notching its sixth month of more than €10bn of issuance.

The Loan Market Association has launched its own automatic document platform, days after a survey by the industry body found that most of the syndicated loan market wants to use or already uses fintech for documentation.

The recent round of M&A and leveraged buyout financing provided by Chinese banks shows their growing ambition in the more complicated and riskier part of Asia’s loan market.

Chinese online human resources service provider 51job has raised a $1.825bn term loan from two banks to support its take-private.

Chinese real estate company Hopson Development Holdings returned to the offshore bond market for the fourth time this year on Monday, this time taking an aggressive approach to pricing its $200m deal.

A consortium led by Billion Development and Project Management, a Hong Kong-based property developer, is in talks with banks for a bridge loan to support its acquisition and reconstruction of an exhibition centre in the city.

Polish consumer collection business InPost launched senior unsecured high yield bonds on Monday, to fund its acquisition of French peer Mondial Relay.

KPS Capital Partners is cranking up the leverage on Crown’s European can packaging business, following its successful bid for the carve-out agreed in April.

The majority of Europe’s syndicated loan market thinks it does not know enough about the financial technology that is likely to affect its business, according to a recent survey. But no respondents to the survey saw fintech as a threat.

Sino-Ocean Capital Holding has raised $500m from a two year bond. The deal was the company’s longest in the offshore market, but came with a weaker structure than its past outings.

Private equity firm Blackstone Group is in talks with banks for a financing of about $1.6bn to back its long-planned acquisition of Hong Kong-listed property developer Soho China.

Taiwan’s Central Trading & Development Corp is set to close a $320m loan for its Vietnamese business soon, as it waits for a few banks to receive their internal approvals.