Loans and High Yield

Indonesia's Mitra Pinasthika Mustika Finance has launched the retail phase of a $100m borrowing, in what is the company's second outing in the syndicated loan market.

Italian construction firm CMC di Ravenna has launched a €150m credit facility in a levfin market where loans have the upper hand.

Moody’s and S&P Global Ratings this week assigned ratings to potential hybrid bonds planned by satellite operator SES as it began to roadshow what stands to be the European market's second such deal of the year.

China Aircraft Leasing Group Holdings (CALC) has made its syndicated loan debut with a $194.73m borrowing.

A slew of onshore bond defaults by Chinese state-owned entities has sent a chill through the market over the past couple of months, with more expected to be in store. But with the market calming down in May, it’s time to take stock and realise that such defaults are part of China’s transition to a market-driven economy — and are essential for the long-term health of the country’s debt market.

Dalian Wanda Group has firmed up financing totalling HK$30.78bn ($3.9bn) for a HK$34.5bn offer to take its property arm private.

Scotiabank de Costa Rica has included Taiwanese lenders in its list of invitees for a $75m two-tranche fundraising, following in the footsteps of many other borrowers from Latin America that are looking to Asia for liquidity.

Indonesian telecommunications tower company Solusi Tunas Pratama is looking to replace its dollar debt with local currency borrowings in a bid to curb risks from foreign exchange movements.

Indonesia’s Sri Rejeki Isman (Sritex) is poised to launch a new bond on June 1 as soon as a tender offer to buy back its outstanding notes expires.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has allocated its latest borrowing at an increased size of $350m.

The position of treasurer at the Asia Pacific Loan Market Association (APLMA) has changed hands after eight years.

Minority shareholders in Evry, a Norwegian IT company controlled by Apax Partners, were dismayed to learn this week that Apax had not told them it planned to extract a €203m dividend from the firm, even as it is trying to buy them out, writes Max Bower.