Loans and High Yield

Financial sanctions on Russian entities and other international political tensions have slowed syndicated lending to emerging markets in 2015 and, according to a Loan Market Association poll, the market remains wary of the outlook for 2016.

Armacell, the German foam insulation manufacturer, is planning loan facilities for its €960m buyout by Blackstone and Kirkbi, a Danish investment firm.

Carlyle Group has sold its stake in RAC, the UK roadside recovery firm, to CVC Capital Partners in a deal that values the business at £2.2bn, including debt.

Dümmen Orange, the Dutch flower breeder, has allocated its acquisition loans in an early bird syndication. The facilities are for BC Partners’ buyout of the firm from H2 Equity Partners and the Dümmen family.

A group of retail equity and bond investors in Abengoa are preparing to file a civil lawsuit in Spain — but hope a class action in the US will speed up proceedings.

Terex, the US lifting and material solutions company, has launched $900m of senior secured credit facilities to back its acquisition of Finnish crane maker Konecranes.

The Asian investment arm of French luxury firm LVMH is in the market for a $130m leveraged buyout loan. This is one of the region's few deals to test appetite for credits where the underlying target is in the fashion industry. Shruti Chaturvedi reports.

Asia’s debt capital markets show no sign of slowing down as the year end approaches, with recent deals proving that investors still have plenty of cash to deploy. Market participants expect at least one more high-profile deal to close in what is poised to be a record December, writes Rev Hui.

BoC Aviation has increased its latest borrowing to $500m after banks from across Asia poured into the transaction.

A $1.5bn refinancing for Tata Steel has finally been opened into syndication, with invitations going out to a limited number of banks on Thursday. The company’s Singaporean subsidiary is raising the loan, which offers lenders an added incentive if they book the deal in the country.

Carlyle Group has sold RAC, the UK roadside recovery firm, to CVC Capital Partners in a deal that values the business at £2.2bn, including its debt.

Tsinghua Unigroup started taking bids for a dual-tranche dollar offering on Thursday, which if printed would be the first offshore bond from the issuer.