Loans and High Yield

South African telecommunications company MTN Group is holding a non-deal roadshow in Taipei this month.

India’s Tata Steel has issued indicative pricing for a borrowing totalling $2.15bn, which will mainly refinance debt at its Singaporean and Dutch units.

Sweden-based EQT has provided funding to Abac, a private equity firm in Catalonia, to invest further in local portfolio company Metalcaucho, which makes spare parts for cars. This was despite political unrest in the region.

The European high yield bond market may have endured a year of multi-billion outflows from retail funds but investors and bankers on the first business week of 2018 are predicting a busy first quarter of supply will be met with sufficient demand.

China’s Shandong Chenming Paper Holdings is ready to start the new year with its first dollar bond issuance.

Tata Steel is in discussions with lenders for a $2bn borrowing to fund a proposed expansion in India and take out some debt raised by its European unit, said sources.

Dealogic could be one of the last leveraged loan deals to close in 2017. With allocations of its dividend recapitalisation loans due on Friday, the deal is likely to cap what has been an all-time record year of issuance in the European leveraged loan market.

International Finance Corp has joined forces with Goldman Sachs to extend a $110m syndicated loan to Vietnam’s An Binh Commercial Joint Stock Bank, a portion of which will be used to provide loans to women-owned enterprises in the country.

Lowell, the UK-German debt collector, will seek funding for its northern European expansion in the high yield bond market, as it buys Intrum’s branches in the Scandinavia region, Finland and Estonia.

Shangrao City Construction Investment Development Group (SCID) has grabbed $300m from its debut international bond in the quiet December market.

European credit funds posted multi-billion inflows this year, as a wave of new investors searched for yield. EQT’s oversubscribed new Credit Opportunities III fund showed on Monday that the market is still pulling in cash to put to work in 2018.

Shangrao City Construction Investment Development Group (SCID) launched its dollar debut on Tuesday morning, while Jiaxing City Investment and Development Group Co kicked off a roadshow for its maiden deal.