Loans and High Yield

Details have emerged on the pricing and structure of the latest borrowing by Tata Steel, which will be used to refinance the debt of its Canadian arm.

361 Degrees has made a smooth debut in the dollar bond market this week, raising $400m from a five year non call three deal. Thanks to the niche industry and strong technicals, the deal tightened 30bp in secondary as investors who did not get an allocation in primary rushed to the aftermarket.

The Swedish firm Hoist Kredit, a subsidiary of Hoist Finance, on Wednesday sold its €250m bond to refinance a mixture of euro and Swedish krona floating rate notes.

Evry, the Norwegian IT firm 88% owned by Apax Partners, has bank meetings on Wednesday morning for its €275m equivalent dividend recapitalisation term loan ‘B’.

China Orient Asset Management International is seeking a $200m three year loan that is now open to retail lenders.

China Three Gorges Corp, CCB Leasing and 361 Degrees International are looking to take advantage of a tight window to get their dollar fundraisings out of the way ahead of a speech from Federal Reserve chairwoman Janet Yellen on Friday.

Indonesia’s Adira Dinamika Multi Finance is in the loan market for a $100m fresh money borrowing via two mandated lead arrangers and bookrunners.

Artsana, the Italian babycare products manufacturer, has replies due on Thursday for its €575m debt package backing InvestIndustrial’s 60% equity stake acquisition.

An auction to settle Norske Skog credit default swaps will take place in June, after ISDA’s determinations ommittee agreed to an initial list of deliverables for the restructuring credit event — despite not having been able to gain access to a crucial document governing the terms of the firm’s guaranteed bonds.

Arla Foods, the unrated Danish dairy cooperative, on Monday printed Skr1bn of notes, with issuance in the Nordic currency still lagging 28% behind last year’s figures.

CVC Capital Partners is set to close two leveraged buyouts at early bird stage for Tipico, the German gaming operator, and Doc Generici, the Italian generic pharmaceutical firm.

Trans Corpora is poised to decide this week whether to open syndication on a $150m loan that Credit Suisse and Maybank have pre-funded, according to bankers close to the transaction.