Loans and High Yield
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China Oriental Group has increased the tender price on its offer to repurchase all or a portion of its dollar-denominated bonds. -
After LeasePlan postponed its €1.55bn bond last week, US software producer Solera Holdings stands alone in the European high yield market as it roadshows a $2bn acquisition bond. But some bankers said that it will be hard for the Texan issuer to draw any lessons from LeasePlan's pain.
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The European leveraged loan market is set for a slowdown in primary activity, with the pipeline underwritten towards the end of 2015 near its completion.
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Macquarie Capital has appointed a new head of UK financial sponsors, its second high profile hire since December.
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European credit and equity markets improved for a second day on Monday, after the European Central Bank said that it would consider further stimulus at the next meeting in March.
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Baring Private Equity Asia has tapped five banks to helm a $400m loan to back its bid for Singapore-based Interplex Holdings, with the deal to open into general syndication shortly.
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A day after UK pub company Enterprise Inns showed a strong start to the year in a trading update, equity investors backed the credit, but its unsecured notes due 2018 kept sliding down in a market hit by LeasePlan’s sale failure.
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Belgian telecommunications company Telenet, which is owned by Liberty Global, has drawn on €1.2bn of loans to fund the €1.325bn acquisition of Belgian mobile operator, BASE.
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A group of banks is firming up a $400m loan to back Baring Private Equity Asia’s bid for precision mechanical parts maker Interplex Holdings.
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Europe’s high yield bond market suffered a severe disappointment on Thursday evening when LeasePlan Corp, the Dutch car finance bank, was forced to pull a €1.55bn bond. Market participants were hoping the offer would show the market was functioning properly, writes Victor Jimenez.
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Despite the flimsy state of Europe's high yield market, its sister leveraged loan business remains vibrant, and this year is the most open of the four main leveraged finance markets: bonds and loans in dollars and euros, writes Max Bower.
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Germany’s Kion Group, the largest European forklift truck manufacturer, is redeeming its €450m of secured notes at their first call date next week with proceeds from a new, cheaper loan facility.
