Loans and High Yield

Bankers speaking to GlobalCapital seemed unable to make up their minds about how the second half of the year will play out in the European high yield market. But they agreed that deals in the works for September will bring little challenge for investors.

Rotterdam-headquartered drinks bottle maker Refresco is set to issue over €2bn-equivalent of loans following its $1.25bn acquisition of US drinks firm Cott’s bottling business.

First-time issuers China Chengtong Holdings Group and China Logistics Property Holdings Co are preparing for their dollar fundraisings, tapping banks to lead their respective offerings.

Cairn India Holdings has signed new lenders into a $651m loan that had been in general syndication since late May.

Continuum Wind Energy’s subsidiary Continuum Energy Levanter is selling a senior 144A/Reg S bond on Tuesday, adding variety to a busy primary debt market.

China Development Bank Financial Leasing Co is back with its second dollar bond, following its international debut in November 2014. Financial leasing firm Lionbridge Capital Co is also looking to price its debut deal on Tuesday.

Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN) is back in the loan market with a $155m 360-day deal to refinance debt and for general working capital.

Indonesia’s ABM Investama began marketing its inaugural dollar bond on Tuesday morning, opting for a 144A deal to reach US investors as well.

Chinese mobile phone maker Xiaomi has allotted its $1bn loan, fully exercising a $250m greenshoe option on the back of strong demand.

Permira is selling its 33% stake in Cortefiel, the Spanish retailer, to the group's other two owners, CVC and PAI Partners. The deal includes a debt restructuring and ends rumours of an IPO.

Blackstone has agreed to buy exhibitions organiser Clarion Events from Providence Equity Partners, only days after it announced a £2.86bn public-to-private bid for UK fintech firm Paysafe alongside CVC.

Allfunds Bank has mandated banks to arrange the sale of a seven year non-call three senior secured bond following the firm's sale to Hellman & Friedman and GIC.