Loans and High Yield

Kuoni, the Swiss travel company, will hold bank meetings on Thursday for debt backing its buyout by private equity firm EQT, following a near three month gestation period.

The limited syndication process for a multi-currency financing for affiliates of Sino Horizon has begun with one bank at the helm.

Fantasia Holdings Group launched a three year dim sum this morning in a deal that reopens the high yield offshore RMB bond market for Chinese issuers for the first time since August.

Telepizza, the Spanish pizza delivery group partly owned by Permira and KKR, closed its €550m IPO bookbuild today and is set to price it at €7.75 a share, a third of the way up the original range. It will use proceeds to repay debt, after restructuring its debt in 2014.

Packaging maker Ardagh Group on Monday said it would unleash a $2.85bn bond offering in euros and dollars, the second largest proposed European high yield deal of the year, to fund asset purchases from Ball Corp.

Inovyn, the UK-headquartered chorvinyls (PVC) producer 50% owned by Ineos, has set price guidance on its €835m term loan ‘B’ backing its €335m buyout of equity partner Solvay.

Taghleef, the Dubai-based food packaging film maker owned by Al Ghurair Group, has tightened pricing on its €285m-equivalent seven year term loan ‘B’ to a margin of 450bp, offered at 99.

Norwegian Air Shuttle (NAS), the low-cost airline, could become the first Nordic borrower to issue this year in the European high yield bond market.

Six lenders have joined a $50m two year borrowing for the Cambodian arm of Vietnamese telecommunications company Viettel.

An overzealous pricing strategy and a divisive credit rating meant JD.com’s debut dollar bond offering did not get off to a good start with the notes widening significantly in the secondary market on Monday.

Paediatric nutrition company Biostime has signed up one lender to arrange a $450m take out of a bridge loan raised last year for the acquisition of Swisse Wellness.

A senior banker in charge of structured loans at Hang Seng Bank is set to leave after more than a decade, according to sources.