Loans and High Yield

Tata Steel's $1.5bn refinancing has been launched into general syndication after a senior phase that began in early December.

Global economic concerns have pushed both equity and bond markets to one of their worst starts to a year on record, but the European leveraged loan market has been resilient so far, with six or more bank meetings last week and several this week.

As Abengoa approaches its late March deadline to avoid bankruptcy, this week the Bank of Spain began a round of checks on creditor banks’ compulsory capital provisions.

Oak Hill Advisors’ co-head of European investments has retired after a career of at least 30 years.

Hunkemöller, the largest lingerie retailer in Benelux, will hold bank meetings on Tuesday for a €275m debt package backing its $483m (€443m) acquisition by the Carlyle Group from PAI Partners.

HeidelbergCement, the German building materials manufacturer, has done part of the financing for its acquisition of ItalCementi in the Schuldschein market, but insists it is not afraid of volatility in the bond market.

Chinese company Haier has enlisted three lenders to fund its $5.4bn acquisition of Kentucky headquartered GE Appliances.

Lippo Karawaci has launched an exchange offer and consent solicitation, aiming to switch holders out of a 2019 bond into new 2023 notes.

Standard & Poor’s has warned that Chinese property developers could be in line for possible rating downgrades if the renminbi continues to depreciate.

Development Bank of the Philippines (DBP) has opened a $300m three year loan to retail participants, having picked the mandated lead arrangers and bookrunners in mid 2015.

Simon Allocca, head of loan markets at Lloyds Bank, is moving to a new job at the bank.

Sweden’s largest oil refiner, Corral Petroleum Holdings, is in talks with lenders to renew a $1.8bn revolving credit facility — but first, it needs to refinance its 2017 dollar and euro payment-in-kind notes.