Loans and High Yield

A HK$5.5bn ($708m)-equivalent loan to partly refinance debt taken for investment manager Permira’s leveraged buyout of Tricor Holdings is now open to existing lenders in syndication.

An innovative collaboration between six organisations from different sectors has led to the creation of the Subnational Climate Finance Initiative, which will work with local governments in developing countries to fund green infrastructure. The scheme highlights the value — but also the difficulty — of blended finance.

IAG issued a dual tranche euro bond this week — its first since the pandemic struck — following an extensive round of actions to shore up its balance sheet in the face of plunging airline passenger traffic. Investors looking for a recovery story piled into the new issue, which found more than €5bn of demand.

French car parts maker Faurecia has issued its first green bond, which will help fund its growing investments in hydrogen fuel cell technology.

Complex refis, Covid-hit industries and chunky dividends are the order of the day in levfin, as banks clear out the tougher end of their pipeline in the last weeks of the quarter.

Indonesian multi-finance companies are ready to charge back into the loan market after a quiet 2020, as the country’s economy picks up and consumer sentiment improves. Banks are also ready to accept borrowers from the sector, but there are challenges ahead, writes Pan Yue.

Two Chinese companies sold dollar bonds on Wednesday as the rest of the market hit pause to await the outcome of the Federal Open Market Committee meeting.

Fnac Darty, the French electronics retailer, has amended and extended its main bank credit lines, shortly after issuing its debut convertible bond as an independent company.

French car parts maker Faurecia has unveiled its first green bond, which will help fund its growing investments in hydrogen fuel cell technology.

MUFG has hired three managing directors to help boost its coverage of private equity sponsors, as well as direct lending.

Japfa Comfeed Indonesia sold the country's first sustainability-linked bond this week, leveraging the market fervour for environmental, social and governance (ESG) investing to tighten pricing more than it would have for a conventional deal. Morgan Davis reports.

Natixis has promoted two bankers to head its acquisition and strategic finance business, following the departure of Fabrice Croppi to become head of investment banking.