Loans and High Yield

The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the corporate, high yield, public sector, financial institution and emerging market bond markets. Below are the High Yield Deals of the Year 2015.

Nyrstar, the Belgian zinc and lead producer, failed to reach a quorum at an extraordinary general meeting in Brussels today to approve its rescue rights issue. But it had expected this, and is confident the capital raising will be approved at a second EGM in January.

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.

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.

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.

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’.

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.

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.

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.

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.

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.