Loans and High Yield
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A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has attracted commitments from just two lenders in syndication, with the deal due to close by the end of this week. -
Indiabulls Real Estate is moving forward with its plans to reduce its offshore borrowings and is in the market with an up to $50m buy-back of its dollar bond.
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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.
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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.
