Loans and High Yield

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.

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.

Entertainment One, the UK media company, plans to sell its first bond, £285m of secured notes, after a five day roadshow that ends on Friday.

The investment grade corporate bond market is rolling on with enough steam to run right up until Christmas. Hybrid, sterling and sub-benchmark trades have all found homes with investors this week.

Real estate developer Country Garden Holdings is asking for consent to modify the terms and conditions of its outstanding dollar bonds.

eHi Car Services finally made its debut in the international bond market, raising $200m from a three year bullet on Tuesday. After its first attempt at a deal failed in August, it decided to pay up this time to ensure success.

Chinese property developer Golden Wheel Tiandi Holdings printed its inaugural dollar bond on December 1, raising $100m from a trade driven by reverse enquiry.

Norwegian Air, the unrated low cost airline, came to the European high yield market on Tuesday and sold €125m of unsecured notes, expanding its all-Norwegian krone denominated bond funding to euros for the first time.

Armacell, the German foam insulation manufacturer, has planned loan facilities for its buyout by Blackstone and Kirkbi, a Danish investment firm.

Chinese debt houses have gained market share this year thanks in no small part to the power of their balance sheets. While competitors have long criticised Chinese banks’ willingness to use capital to win a place on deals, there’s little reason to stop an approach that is clearly reaping rewards.

Chinese notebook parts maker Luxshare Precision Industry has closed its three year revolver at $250m, partially exercising a $100m greenshoe.