Loans and High Yield
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In a rare win for the high yield bond market — which has repeatedly lost out to leveraged loans for new buyout financings this year — Schustermann & Borenstein, the German fashion retailer, on Monday began roadshowing a €260m bond to fund its acquisition by Permira. -
Business travel group Carlson is running a roadshow for what could be the European high yield market's last deal of the year as it aims to refinance its debt with a three tranche bond.
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A former managing director at Deutsche Bank has joined Houlihan Lokey in newly established position leading the expansion of its European capital markets group.
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French health care group Elsan, owned by private equity firm CVC, on Tuesday announced price guidance on its €730m loan for the buyout of MédiPôle Partenaires.
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Chinese local government financing vehicle Zhenjiang Transportation Industry Group sold its debut international bond on Monday, raising $140m from the only live deal in the market.
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Chinese local government financing vehicle (LGFV) Yunnan Provincial Energy Investment Group is making its return to the international bond market, marketing a dollar-denominated dual tranche offering on Tuesday.
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US coatings manufacturer Axalta's euro and dollar term loans allocated this week, with 10 other leveraged loan deals expected to close in the next two weeks.
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Schustermann & Borenstein, the German fashion retailer, priced a €260m bond on Thursday to fund its acquisition by private equity firm Permira.
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Asia ex-Japan debt capital markets had a quiet opening on Monday, with a sole Chinese local government financing vehicle (LGFV) out for dollar funding. On the same day, another two LGFVs announced mandates.
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Two further French M&A loan deals are lined up to join the leveraged loan market, with sponsors finding the post-US election leveraged loan market increasingly accommodating.
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Catalent Pharma and Thomas Cook — a reverse Yankee issuer and a UK holidays operator — on Thursday released guidance for high yield deals amounting some €900m in a market that has been mute since November 15.
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Ronshine China Holdings priced its inaugural offshore bond against a volatile market backdrop and concern around its sector. The borrower still managed to raise $175m from the offering thanks to the presence of anchor orders.
