Loans and High Yield
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A default event has been declared on a $222m loan for Indonesian gas-to-power specialist MAXpower Group. The company first flagged up its financial problems over a year ago and had been speaking with lenders to rejig terms on the five year syndication sealed in 2015. -
Hospital operator Ameos has scheduled a bank meeting for Wednesday morning for a €510m loan refinancing, as banks scramble for deals.
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BNP Paribas and Crédit Agricole have hired new head traders for their high yield bond business, according to sources on Monday.
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Two high yield companies from Latin America will wrap up investor meetings on Tuesday ahead of planned dollar-denominated bond issues.
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The pipeline for new deals in the euro high yield bond market appeared all but empty this week, but bankers said Sunday’s French presidential election win for Emmanuel Macron would stoke a surge of offerings.
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Anand Bangur has been named head of the Asia Pacific corporate finance division at First Abu Dhabi Bank (FAB), the entity born from the merger of First Gulf Bank and National Bank of Abu Dhabi.
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Investors have a chance to buy bonds from Indonesian government-owned electricity distributor Perusahaan Listrik Negara (PLN), which is back in the international market for the first time in over four years. Meanwhile, Singaporean property developer Oxley Holdings is tapping its $200m notes.
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Norican, the Danish metal parts enhancement firm, priced a €340m six year senior secured bond to finance an acquisition on Friday.
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A HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings is open for participation at the sub-underwriter level.
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A member of the loan syndications team at Standard Chartered in Hong Kong has left the bank for personal reasons.
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Huachen Energy Co is prepping investors for its inaugural appearance in the international bond market, meeting fixed income accounts next week.
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Several leveraged loan deals were wrapped up this week in an otherwise quiet window for primary issuance.
