Loans and High Yield

Softbank, the Japanese technology and telecoms group, has taken a ¥1tr ($9.5bn) loan for its £24bn acquisition of Arm Holdings, the UK firm which designs mobile phone chips. The loan could be syndicated to non-Japanese banks if the refinancing strategy requires it, said one senior banker.

Schaeffler, the German industrial bearings manufacturer, has consolidated its financial position with a €2.3bn loan refinancing package, following its €938m initial public offering in 2015.

CVC-owned German cosmetics retailer Douglas has launched a repricing request for its €1.22bn cov-lite term loan ‘B’, holding an investor call on Tuesday afternoon.

Housing Development Finance Corp added some flavour to the debt market last week, selling the first Masala bond from an Indian corporate. The deal broke new ground, opening a new fundraising channel for the country's borrowers. But it also raises questions about the long-term development of the asset class.

BNP Paribas is losing a loan syndicate banker in Singapore, according to two sources.

The recent run of leveraged finance deals from companies owned by CVC Capital Partners continued this week as Lecta Group, the coated paper maker, on Thursday began pricing a €590m bond.

Alternative lending funds have raised record amounts of capital in the past 18 months, yet with macro-economic conditions deteriorating, the short term outlook for the sector looks uncertain.

Balkan telecoms provider United Group on Tuesday sold a €150m tap to fund the purchase of smaller peer companies in the former Yugoslavia.

Kaisa Group Holdings, which last year became the first Chinese property developer to default on its offshore notes, plans to wrap up its debt restructuring by the end of this week after reaching an agreement with creditors in May.

Chinese sportswear maker 361 Degrees has announced the results of a tender offer for its offshore renminbi-denominated notes.

India’s Glenmark Pharmaceuticals is looking to make its first foray into the offshore bond market, hiring banks to organise a roadshow this week.

Gamenet, the Italian gambling machine operator,opened a roadshow on Monday for €200m of high yield notes — the third high yield issue from an Italian borrower since the UK referendum on June 23.