Loans and High Yield

India’s IL&FS Transportation Networks had to postpone its dollar bond debut after a series of unfortunate events on Tuesday. A weak market backdrop, a cautious investor base and a hefty pipeline of deals combined to dash its hopes, writes Morgan Davis.

Dublin, Ireland-based Fly Leasing plans to raise a $1.3bn loan to acquire aircraft assets from budget carrier AirAsia.

Tata Sons could launch a $1.5bn borrowing within the next two weeks, as the Indian firm prepares its return to the syndicated loan market after a decade.

If the Norwegian bond market’s light touch approach to documentation means investors lose out, the Nordic aspiration to become the venue of choice for Northern Europe's high yield issuers may never materialise.

The low rates in Europe are making the euro high yield market an attractive option for US issuers like Belden, a St Louis-based manufacturer of telecoms equipment, which is launching a new euro bond to buy back old deals in euros and dollars. More US issuers are coming to euros, say bankers and investors.

Société Générale has announced new heads of coverage for public sector entities and financial sponsors.

KEB Hana Bank has closed a €120m syndicated financing for automotive parts manufacturer Hands Corp, roping in two Chinese lenders as arrangers.

A debut trade from Stark Group, the Nordic building materials supplier, gave high yield investors their first chance to invest in single-B rated bonds in about a month. The deal announcement arrived while market participants were still assessing the victory of Eurosceptic parties in the weekend's general election in Italy.

Credit Suisse’s top man in loan syndications for Asia is leaving the bank to pursue new opportunities, according to sources close to the move.

On Friday, Unilever Spreads released guidance for its €4.6bn equivalent loan to fund its acquisition by KKR. French telecoms infrastructure group Circet also launched a smaller deal, a €570m loan package for its buyout by Advent. But investor demand isn't satisfied yet, say some market participants.

Bank of China joined its Chinese peers to sell floating rate notes (FRNs) offshore, while Fantasia Holdings Group Co added to the momentum in the high beta property sector. The two finished off an incredible week for both financial and corporate borrowers from the Mainland.

Vietnam’s state-owned VietinBank bagged commitments from 12 banks for its $100m loan during general syndication, with lenders from Europe, China and India jumping on-board.