Loans and High Yield

Alliance Automotive, the Blackstone-owned French car parts supplier, announced and printed an add-on to its LBO bonds in just one day, to fund the acquisition of UK peer FPS Distribution.

Euro Garages has launched €1.16bn of new loan facilities with a bank meeting on Thursday as it moves toward merging with European Forecourt Retail.

Lenders have put together a financing package of $550m to back MBK Partners and TPG’s joint acquisition of Wharf T&T from Wharf Holdings.

A $180m financing for Indonesian tanker company Soechi Lines has been opened to a wider group of banks, with a roadshow scheduled in Taiwan this week.

This has been a week of wariness for euro investment grade corporate bonds. A German public holiday on Monday kept a lid on deals, but there were at least two go/no-go calls on Tuesday that yielded no deals, despite an improving tone in corporate spreads and stock markets.

BNP Paribas Investment Partners has launched a €500m direct lending fund which offers longer dated institutional loans alongside bank loans to small and medium sized European companies.

New York-headquartered Multi Packaging Solutions allocated its multi-currency term loan refinancing late on Tuesday afternoon, with several more deals scheduled to have followed this week.

St. Louis-headquartered Belden, the communications equipment manufacturer, launched €200m of 10 year non-call five notes on Tuesday morning, as the high yield market looks to maintain issuance momentum following a bumper September.

Robust G3 issuance in Asia ex-Japan in September delivered the second highest monthly deal volume on record. But the market has witnessed a power shift, with investors now calling the shots, writes Addison Gong.

Sri Lankan commercial lender Sampath Bank has wrapped up its latest fundraising at $100m, fully using a $50m greenshoe on the back of demand from Middle Eastern and Indian lenders.

Seven banks subscribed to a $297m loan for Blackstone’s acquisition of Indian fintech firm Mphasis during general syndication. The deal was initially conceived as a $405m facility but the amount was reduced after an open offer.

Bank of America Merrill Lynch has hired a senior high yield bond trader to its team in London, who will join the bank's European credit flow business in November.