Loans and High Yield

Schaeffler’s holding company priced on Wednesday a huge four tranche PIK toggle bond, part of a comprehensive refinancing that will cut its debt load by €500m and push out its maturities.

Majestic Wine, the UK retailer, wants to sell its shops, and is in talks with several interested parties, it said on Tuesday.

Andalan Finance Indonesia, an auto finance company, is in the offshore loan market seeking a $50m deal.

Chinese issuer Huachen Energy has skipped a dollar bond coupon, as its troubled parent company Wintime Energy slips further into a liquidity crisis.

Matthieu Pigasse has been appointed as global head of banking and deputy CEO of financial advisory at Lazard.

Barclays and Deutsche Bank have started syndicating the debt backing Advent’s buyout of Evonik’s methacrylates business, a deal which almost escaped the market earlier this year when GSO offered to provide the whole package.

Oceanwide Holdings Co has priced a new $280m two year bond to replace in part an imminent maturity, paying one of the highest yields Asia has seen so far this year.

Tikehau Capital, the French alternative investment manager, has raised €300m after a private capital raising led by Morgan Stanley.

Mongolian conglomerate Tavan Bogd Trade pulled its debut dollar bond transaction on Thursday after the order book was closed. The high yield borrower had offered investors 12% for the three year bullet, but ultimately decided to postpone the final sale.

AAA Oils and Fats (AAAOF), a trading subsidiary of palm oil processor and distributor Apical Group, is seeking to amend and extend the revolving credit facility tranche of a $800m borrowing from 2017.

Thomas Cook bonds traded down more than 12 points on Thursday in heavy volume, as the UK holidays group announced a new first-ranking loan for the winter season, a big goodwill writedown that took its pre-tax loss to £1.4bn, and a big drawdown on its revolving credit facility.

A consortium led by EQT Partners has won the auction of Nestlé Skin Health for Sfr10.2bn ($10.1bn), paving the way for what is likely to be the year’s largest leveraged buyout in Europe, and the third largest since the financial crisis, after AkzoNobel Specialty Chemicals and Refinitiv last year.