Loans and High Yield

A $575m loan for Twin Star Mauritius, a subsidiary of mining company Vedanta Resources, has attracted two commitments since its launch into general syndication in September. But the deal remains open to participants with a few more lenders expected to chip in, said two bankers close to the matter.

A raft of issuers from the US energy sector swarmed the leveraged loan and high yield market on Monday, overcoming a brief hiccup in the market that caused three energy issuers to pull deals earlier in the month.

French insurance broker Financière CEP and UK frozen food producer Nomad Foods have launched refinancing offerings to increase the size of existing debt.

Alpha Holding, which specialises in consumer and SME lending in Mexico and Colombia, has named leads for a dollar bond.

India’s Rural Electrification Corp is one of the few non-Chinese issuers laying the groundwork for a new dollar bond before the end of the year.

A two-part loan for Singaporean private equity firm Capital Square Partners’ acquisition of business process outsourcing company Aegis has entered into general syndication.

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

CPF Investment, a unit of Thai firm Charoen Pokphand Foods (CPF), has approached the syndicated loan market for a $625m borrowing.

Cemex, Thomas Cook, Telenet and Lowen Play injected €1.7bn of bond offerings into a visible high yield issuance pipeline already populated with Pinewood and CeramTec this week.

Global investors piled into Indonesian toll road operator Jasa Marga’s debut offshore rupiah bond on November 30, as the issuer raised Rph4tr ($296.1m) in a deal that opened up a new asset class.

Hong Kong-listed China Tian Lun Gas Holdings has signed its HK$1.25bn ($160m) five year borrowing with a group of nine lenders, said bankers close to the deal.

Swedish speciality chemicals firm Perstorp is lining up the European high yield market’s first December deal, with a €485m two tranche bond that is expected to be priced next week.