Loans and High Yield
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Puma Energy, the midstream and downstream oil company, has signed a five year loan that was oversubscribed by its relationship banks. -
Interoute, a UK network and cloud services operator, is set to refinance its only high yield bond issue with a new leveraged loan that it launched this week.
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A trio of borrowers from Laos are looking to hit the international loan market soon, with Cathay United Bank guiding lenders towards a possible launch date.
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Huarong International Financial Holdings is in the market with a HK$3bn ($383m) two-tranche offshore financing led by a pair of Taiwanese lenders.
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China’s Tianjin Lingang Investment Holding Co grabbed $260m from an open-and-shut debut deal on Friday, which was driven by reverse enquiry.
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Chinese developer KWG Property Holding is back in the dollar debt market just six months after raking in $400m from a five and a half year bond.
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Société Générale Corporate & Investment Banking has brought in a senior executive from London to head its Asia Pacific acquisition financing unit.
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Chinese storage and transportation equipment provider CIMC Enric Holdings is seeking a $150m three year loan from the offshore market.
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The European leveraged loan deal pipeline for September keeps growing, now topping €7bn from more than 10 borrowers. The latest facility is for UK software firm Civica, which Partners Group has acquired from OMERS Private Equity.
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UK telecoms group Virgin Media was in the market for a £200m add-on of its 2024 receivable financing notes on Monday. By Wednesday, it had sold £450m of the deal, proving that demand is not restricted to the high yield debt market for euros, where three more deals were under way.
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A slew of Chinese firms are making their debuts in the offshore loan market, with the pricing on offer reflecting a borrower base that is increasingly confident and savvy when negotiating terms with lenders, writes Shruti Chaturvedi.
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Wynn Macau raised $1.35bn from the bond market on Wednesday, finding support from both Asian and US investors thanks to a turnaround story in the Macau gaming industry and the issuer’s improved financials.
