Loans and High Yield
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Former French prime minister François Fillon will become a new partner at Tikehau Capital in September, a source told GlobalCapital on Wednesday, with a ‘full dedication’ job to increase the firm’s domestic business and international reputation. -
European investors had just 12 days between corporate bond deals this August as issuers looked to take advantage of the strong issuance conditions still in effect.
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Indonesian textile company Sri Rejeki Isman (Sritex) has approached offshore banks for a $100m three year syndicated loan.
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The debt capital markets in Asia remained quiet on Wednesday, as typhoon Hato hit Hong Kong, cancelling stock trading in the morning. A single Chinese firm, Muyuan Foods Co, announced its plan to go offshore for funding in the morning.
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Fintech firm Paysafe has disclosed the financial structure initial lenders have put in place before they begin marketing the all-leveraged loan funding of its acquisition by CVC and Blackstone from Old Mutual and Threadneedle.
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Black Peony (Group) Co is eyeing the international debt capital markets, having just received approval from its board to issue as much as $100m of foreign currency bonds.
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Lifestyle International Holdings is making a return to the dollar bond market after two years away, having mandating three banks for a roadshow in Hong Kong this week.
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The terms are out for Hong Kong-listed company Samson Paper’s HK$570m ($73m) refinancing. The deal has three arrangers, which circulated term sheets among existing lenders a couple of weeks ago. Invitations have now gone out to other banks.
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Stiga, the company known until June as Global Garden Products, is out with a refinancing loan deal led by one of its shareholders, the speculative grade investor Alcentra.
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Although bankers predict the euro high yield bond pipeline will be varied and busy for September, investors delivered a message of caution as they took out €730m from European high yield funds last week.
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The three bookrunners of a $900m-equivalent Hong Kong dollar loan for I Squared Capital’s acquisition of Hutchison Global Communications (HGC) have invited lenders to join the syndicate at a senior level.
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Cathay United Bank has invited lenders for meetings in Laos during the first week of September, as it prepares to launch three different loans from the country.
