Loans and High Yield

A subsidiary of Indonesian conglomerate CT Corp is talking to banks for a $750m refinancing loan, according to bankers close to the situation.

Multiplex cinema chain Cineworld is betting on rapid expansion as it pours more billions into another North American acquisition. Cineworld, which is among the most shorted companies in the UK, plans to acquire Canadian competitor Cineplex in a $2.1bn deal financed by debt. This plan comes nine months after it made a $3.6bn acquisition in the US.

Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

Allianz Real Estate and Gaw Capital Partners have secured a joint S$945m ($697m) green loan to support the acquisition of Duo Tower and Duo Galleria in Singapore.

GlobalCapital Asia spent the last two months talking to banks and their clients to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2019. We are pleased to begin our awards announcements in the loan market.

There are fundamental reasons for UK assets to be revalued upwards, analysts believe. The powerful majority achieved by Boris Johnson's Conservatives tilts the UK towards a Trump-like market-friendly, fiscally generous patch. But the reality of Brexit cannot be ignored for long.

Asian leveraged finance bankers are having a busy year-end, with Chinese companies coming to the loan market for funds to support their acquisitions.

Chinese property developer Hydoo International Holding has priced new notes as part of an exchange offer, issuing $193.5m of two year bonds that include around $82m of new money.

Chinese residential developer Zensun Group bagged $120m from a tap of its debut bond on Thursday, launching the deal on the back of plenty of anchor support.

After assembling mega-funds that can commit loans of €1bn and more, direct lenders are gaining ground in leveraged finance at notable speed. Besides size, firms such as Alcentra, Ares, BlueBay and ICG offer borrowers privacy, speed, fixed terms and long-term commitment. But are they all equipped for the torrent of distressed situations the next downturn is likely to bring?

Volumes in European leveraged finance took a dive in 2019, leaving leveraged credit investors struggling to find value. A string of take-private attempts, especially in Germany, had lenders and banker salivating, but fell apart before coming to market

Lawyers in the US have had a busy 2019 drawing up tough documentation to protect borrowers and sponsors from CDS investors — net short activists — trying to get their say on the future of a company. With these provisions spreading to Europe, 2020 could be an even busier year