Loans and High Yield

Sister affiliate alternative asset managers Candriam and New York Life Alternatives have bought a minority stake in European private credit firm Kartesia. The strategic partnership will bolster Kartesia’s financial position and keep the firm competitive as direct lenders in Europe increase their firepower.

Seazen Holdings Co, a Chinese real estate developer, sold a $450m bond on Tuesday that was paired with tender offers for two notes coming due next year.

China's Tianqi Lithium is set to sell a minority stake in a lithium mine in Australia to reduce some of its debt burden.

Indian data analytics firm Mu Sigma has closed its $95m refinancing loan after receiving commitments from three more banks during syndication.

The sustainable finance market clamoured for a Taxonomy to tell it what was green. Now it’s here, many are finding the answers constraining or simplistic. Alarmingly, the Taxonomy is also perpetuating the very thing it was supposed to root out — greenwashing.

The Loan Market Association has got its contractual ducks in a row as it prepares to launch a new platform to automate parts of the documentation process for loans and ancillary services, with the industry body looking to start the service early next year.

The Ineos group is reworking its financing structure, with a new funding group called Ineos Quattro. The reorganization comes ahead of the takeout of the funding for its purchase of BP’s aromatics and acetyls business, one of the largest 2020 bridges still outstanding.

GlobalCapital Asia has spent the last two months talking to banks and their clients to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2020, a volatile and unpredictable year. We are pleased to begin our awards announcements in the loan market.

Chinese property developer Logan Group Co courted investors with a six year bond on Monday, raising $300m from a solid order book of $3.3bn.

Philippine company SMC Global Power Holdings Corp added $350m to its coffers from a bond tap on Monday, taking advantage of market stability to return to investors rapidly.

VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has exercised the greenshoe option to increase the size of its loan to $170m.

Hong Kong’s personal loan provider, United Asia Finance, has returned to the market for its annual borrowing. It is seeking a HK$1.2bn ($154.8m) facility.