Loans and High Yield

E-House (China) Enterprise Holdings tapped its 7.6% 2023 bonds for an additional $100m on Wednesday, bringing the total deal size to $300m.

Fintech payments provider Paysafe has launched a refinancing of its remaining credit facilities, following its $9bn merger with a Bill Foley-controlled Spac, which closed in March. The merger and its accompanying PIPE allowed the firm to pay down debt and cut its leverage, and now it wants to lock in the benefits with a lower-cost refi.

Aluminium producer China Hongqiao Group has raised $500m from a bond that appealed to investors for its ‘surprisingly generous’ premium on offer.

Zhenro Properties Group visited the offshore bond market for the fourth time in 2021 this week, adding another $340m to its coffers.

Two senior leveraged finance lawyers have switched firms from White & Case to Allen & Overy in New York, following Jake Mincemoyer, who joined A&O as head of US levfin in February.

TDR Capital is injecting £100m in equity and a £250m payment-in-kind financing to recapitalise gym chain David Lloyd Leisure, as part of a broad-based refinancing including the firm’s first public high yield bond issue. Barclays, which has done most of TDR's recent deals, is running the £900m-equivalent bond, announced on Tuesday morning.

Banks launched the first leg of the buyout package for Hillhouse Capital’s purchase of Philips Domestic Appliances on Tuesday, readying an €850m seven year term loan, with bonds to follow.

Two Chinese real estate borrowers, Agile Group Holdings and Datang Group Holdings, hit the dollar debt market on Monday.

Cambodia’s Acleda Bank has returned to the loan market after a three-year absence, and is testing lenders’ appetite for three different deals simultaneously.

Vietnam’s VNDirect Securities Corp has tapped the offshore loan market for the first time for a $50m borrowing.

Tottenham Hotspur FC has raised a further £250m of US private placements, to pay off Bank of England loans signed during the coronavirus pandemic.

Hong Kong property company New World Development Co sold a perpetual bond this week, raising $1.2bn to fund a tender offer for a fixed-for-life deal.