Loans and High Yield

India finally has a formal green bond framework after the Securities and Exchange Board of India (Sebi) approved a draft proposal released at the end of last year.

China's Evergrande Real Estate Group navigated cautious markets and a rating downgrade on Monday with a reverse enquiry-driven bond that came with a fixed price. Bankers on the deal said it was a win-win for both the issuer and investors, given the volatile conditions.

Ping An Life Insurance Company of China started building books for its inaugural dollar bond on Tuesday, while South Korea’s Woori Bank and China Energy Reserve and Chemicals Group are also wooing investors for their respective dollar deals.

Infinitas, the educational publisher, will hold bank meetings on Thursday for a €435m senior secured debt package backing its acquisition by Compass Partners from Bridgepoint.

Abengoa Yield, the yieldco spun off by Abengoa, the troubled Spanish renewable energy company, has changed its name to Atlantica Yield, and appointed a new chief financial officer, in a bid to dissociate itself from its parent, which has three months left to avoid bankruptcy.

B&B Hotels, France’s third largest budget hotels group, launched a covenant-lite senior term loan to early birds this week, backing its €800m buyout by PAI Partners from the Carlyle Group and Montefiore Investment.

Webhelp, the French call centre operator, was one of three companies who held bank meetings on Tuesday for leveraged loans. The €640m of first lien debt finances Webhelp’s acquisition by KKR from Charterhouse Capital Partners.

Atalian Global, the French facilities management company, on Monday opened the first roadshow of 2016 for a high yield bond in Europe, as it announced the acquisition of US peer Temco Facility Services.

A $100m syndicated loan for China Water Affairs Group has closed with over 10 banks piling in, prompting the borrower to consider doubling the size of the deal.

The long-running saga surrounding Kaisa Group Holdings’ offshore debt looks like it could finally come to an end following the launch of a debt restructuring programme.

China's Evergrande Real Estate Group started bookbuilding for a new 2019 offering with a fixed price on January 11. The deal comes amid Moody's announcement that it has downgraded the issuer and its debt because of increased financial risk.

Tata Motors has made a rapid return to the international loan market for a refinancing worth $250m, launching the deal just a few weeks after signing a $600m fundraising.