Loans and High Yield

China Railway Signal & Communication Corp (CRSC), the largest maker of rail transport control systems in the Mainland, is seeking the go ahead to sell onshore and offshore debt financing instruments.

Soho China has announced plans to redeem all of its outstanding 2022s, six months after buying back just part of the notes.

The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.

Songa Offshore, the Norwegian oil drilling company that is going through a distressed debt restructuring, completed on Thursday its raising of new money with a convertible bond, getting the maximum size of $125m.

US cash machine maker Diebold, which is acquiring German peer Wincor Nixdorf, has increased the size of its euro and dollar loans and tightened their spreads, amid an improving investor mood in the leveraged loan market.

Hong Kong-based commodities trader Noble Group is back in the market for a $1bn loan to refinance outstanding debt. But the company is paying up dearly for the fundraising as it battles scepticism around its sector and the state of its financials. Shruti Chaturvedi reports.

ONGC Videsh has sent out a request for proposals for a $1.268bn nine month loan facility, as the international arm of Oil and Natural Gas Corp seeks funds for the acquisition of a stake in oil fields in Russia.

The Asian primary dollar bond market had a strong start to the week with four deals hitting investors’ desks on the same day. The activity has boosted hopes for a robust second quarter following a subdued first three months that saw Chinese volumes plummet, writes Narae Kim.

UniCredit has named the new co-heads of its international financial sponsor solutions team, which houses its leveraged finance business for sponsors, following the promotion of David Vials to head of corporate coverage UK.

Miles Tadman, former distressed debt analyst at Deutsche Bank and Barclays, has joined investment banking firm SC Lowy in London.

Park Square Capital's third subordinated debt fund is ready to invest in sponsor-led deals, as European banks continue to reduce lending to highly leveraged companies.

Galloper Wind Farm is syndicating £1.1bn of loans to a second group of banks, a banker familiar with the deal said this week.