Loans and High Yield
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Chinese outdoor leisure products developer Bestway Global Holding has closed its debut offshore borrowing at a reduced size of around $88.9m. -
China’s Texhong Textile Group has returned to the loan market for HK$1bn ($127m) only six months after it closed a larger facility.
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Following the success of the jumbo acquisition financing for Brookfield and CPDQ’s purchase of Johnson Controls’ Power Solutions unit, European leveraged loan buyers now have a wide variety of credits to assess, with deals from Ceva Santé, Delachaux, Konecta and Hotelbeds in the market this week.
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Solar energy generator Sonnedix has signed a €250m bank facility, as it looks to snap up new projects in OECD countries.
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China’s Tianshan Aluminium is tapping the offshore loan market for $200m.
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Chinese laminating filmmaker Kangde Xin Composite Material Group skipped a coupon on its dollar bond on Monday but the missing payment seemed barely to register with market participants.
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Mongolian Mining Corp announced on Monday March 18 a tender offer for its two existing dollar bonds, alongside the proposed issuance of new notes.
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Interserve, one of the largest outsourcing companies in the UK, plans to file for administration after shareholders rejected a proposed debt for equity swap at a general meeting on Friday.
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Taishin Financial Leasing (China) is about to close its debut offshore loan at $100m. It is now just waiting for one of the lenders to get approval.
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Chinese property company Fujian Yango Group Co raised $150m from a quick 1.5 year bond sale on Thursday, after a rocky start to the year.
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European high yield investors are as eager to buy bonds as their investment grade counterparts — the difference is, while IG issuers have been pouring paper into the market, high yield has been in a drought. But that is at last starting to break.
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UK department store Debenhams is considering a £150m loan offer from its potential acquirer Sports Direct, in a deal that could bypass lending banks and see leadership of the company fall to Mike Ashley.
