Loans and High Yield

UK mining company Sirius Minerals delayed its $500m high yield bond on Tuesday,aiming to try again in September. The clock is ticking on the fertiliser mine project in the Yorkshire Moors. Sirius has until October 30 to entice investors or its whole financing package will collapse.

Asia Pacific Resources International Holdings (April), a subsidiary of Royal Golden Eagle, has made a quick return to the loan market for a self-arranged borrowing of up to $1bn.

Axel Springer's shareholders have given a green light to a public-to-private takeover offer from KKR, which values the German media company at €6.7bn.

Commerzbank has appointed its first head of syndicated and leveraged finance, a unit created within its new capital markets division.

Central China Real Estate and Shandong Chenming Paper Holdings have raised a combined $463m from dollar bond investors amid a weak market backdrop.

New Frontier Corp, a Hong Kong-based special purpose acquisition company (Spac), is planning to raise $300m-equivalent to support its $1.44bn purchase of China’s United Family Healthcare.

The Philippines’ Aboitiz Power Corp has found support from a group of 22 banks for a $300m loan that will finance its acquisition of AC Energy’s thermal power company.

Refinitiv bondholders will likely not receive the full sum of the make-whole premiums that apply to the bonds if London Stock Exchange Group refinances all of them before their call date. An equity claw clause will allow Refinitiv to refinance 40% of the bonds at a cheaper rate.

Andrew McNaught will lead BNP Paribas’ UK advisory team from the end of the month, as the French bank plans to develop its corporate operations in the country “further, faster”.

A recent flurry of leveraged and acquisition financing activity in Asia has caught the attention of loans bankers hungry for new assets. But as trade tensions and fears about a growth slowdown ramp up, the pressure on the market is high, writes Pan Yue.

Banks are racing to expand their sponsors coverage teams as they fight to remain relevant to private capital providers at a time of disintermediation in investment banking. By David Rothnie.

North Carolina-based health technology company Iqvia managed to shave off a chunk of its interest expenses on Wednesday by refinancing its $800m bond in the euro market. Investors grabbed the opportunity to invest in a high-growth listed company, which are still rarities in Europe, a banker involved in the deal said.