Loans and High Yield
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Leveraged finance markets in Europe may face growing competition from private placements as their core borrowers go for smaller tranches. Geert Arlman, mid-market director at Standard & Poor’s, shares with GlobalCapital insights from the agency’s 2016 focus research. -
In 2015 GlobalCapital asked loan market participants for their votes for the Syndicated Loan, Leveraged Finance and Private Placement Awards 2016.
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Qihoo 360 Technology is raising a $3.4bn equivalent renminbi loan to back its delisting from the New York Stock Exchange, picking China Merchants Bank to supply the funds.
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Sri Lanka’s Commercial Leasing & Finance (CLC) has raised one portion of a $153m syndicated loan from 10 lenders, as the non-banking financial institution sets it sights on developing small and medium enterprises in the country.
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German arms maker Heckler & Koch was downgraded to D by Standard & Poor’s on Tuesday, after a partial bond redemption considered as a ‘distressed exchange’.
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Ares Management, the asset management firm, has purchased a £500m portfolio of performing UK middle-market financial sponsor-backed term loans from Barclays’ corporate banking division.
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Abengoa, the engineering and renewable energy firm, woke up on Monday up to two lawsuits from share and bond holders in Spain, while lenders agreed to inject €100m so the company could meet December’s payroll.
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The central bank of Laos is planning to close its debut offshore syndicated loan at a size of $158m, in a deal that bankers are hailing as a benchmark for other issuers from the country.
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Tata Chemicals Europe's £140m ($216m) five year dual-tranche facility has received commitments from two banks and is set to wind up in January.
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San Miguel Corp is leaning towards peso as its currency of choice for a $1.1bn financing for a potential joint venture with telecommunications company Telstra.
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The last time a newly rated Italian issuer tried to issue a corporate high yield bond was in May — but take a step back and the wider picture points at a resilient, vibrant market with an investor base up for the challenge. Victor Jimenez reports.
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A $305m three year borrowing for Tata Power's subsidiary, Khopoli Investments, has received commitments from two banks, having been in general syndication since September.
