Loans and High Yield

Cooper, the French pharmaceuticals distributor, has priced the term loan ‘B’ for its acquisition by Charterhouse at 475bp over Euribor, with an original issue discount of 99.5, the wide end of initial talk that began at 450bp.

Corporate bond bankers are busy, for this time of year. While they are usually up for doing deals, it is clear investors, too, are in no hurry to close their books for the year, but are keen to buy paper, despite the let-down of the European Central Bank’s lukewarm QE boost last week.

Standard Chartered's European head of loans is leaving the bank.

Corporate treasurers across Europe will be thanking Daimler today, as the German car maker took the lead on Tuesday and showed that the bond market is wide open for deals.

A $150m three year loan for Ye Chiu Group subsidiary, Harmony Group, is likely to be cut in size after meeting a lukewarm response during general syndication.

Deutsche Bank’s head of Asia fixed income capital markets, Herman van den Wall Bake, has left the bank, sources close to the move confirmed.

Abengoa’s decision to seek insolvency protection is a bankruptcy credit event trigger for some credit default swaps referencing the company but not others, ISDA’s Determinations Committee has ruled.

Goodyear Dunlop Tires, the US tyre manufacturer, is issuing €250m of eight year senior unsecured notes. A roadshow is scheduled for Wednesday in London.

Flint Group, the printing and packaging inks supplier, has allocated a €150m add on facility to the six year term loan ‘B’ it signed in May.

New rules on Indian offshore borrowings have dismayed local bankers as it bans them from participating in offshore deals for non-bank financial corporations and firms that support infrastructure — the bread and butter of their loans business. But the changes are not a bad thing and will shake Indian lenders out of their complacency.

Inner Mongolia-based China Shengmu Organic Milk is testing appetite in the syndicated loan market for a $120m three year fundraising.

Bharat Oman Refineries (BORL), which sent out a request for proposal for a loan of $125m in October, has mandated a group of three banks for the financing.