Loans and High Yield

Ball Corp, the US metal packaging manufacturer, wants to issue its first euro bond as part of a €1.5bn-equivalent deal to support the purchase of UK can maker Rexam.

Luxembourg-based airport services provider, Swissport, sold €690m of high yield bonds on Thursday to fund its acquisition by Chinese private equity group HNA.

China Greenland Rundong Auto Group has become the latest auto dealer from the Mainland to increase the size of its borrowing thanks to strong demand.

Chinese conglomerate HNA Group ventured into the dollar bond market on Thanksgiving and managed to raise $250m from a two times covered book.

SinoPac Securities has signed a $120m three year bullet loan, netting commitments from a group of roughly 15 lenders.

Abengoa is swimming for its life, but looks likely to sink beneath the waves of debt. Already, hindsight is beginning to make this look like an outcome everyone should have seen coming.

Banks, investors and even the Spanish and US governments are bracing themselves for a long and bruising battle to restructure Abengoa, the Spanish renewable energy group likely to enter a pre-insolvency period on Friday.

Azelis, the Antwerp-headquartered speciality chemicals distributor, had commitments due at 5pm Thursday for its seven year euro term loan, having flexed the pricing on all first lien debt.

Swissport, the air cargo handling company, has removed the US dollar tranche from its €1bn equivalent (Sfr1.145bn) debt package for its acquisition by HNA, a Chinese private equity firm.

Groupe Fnac, the French retailer of books, music and electronics, has signed €865m of loans for its €615m acquisition of Darty, the London and Paris-listed French electricals retailer.

Coopération Pharmaceutique Française, the French pharmaceuticals distributor known as Cooper, has bank meetings scheduled on Wednesday for more than €350m of new debt for its leveraged buyout by Charterhouse.

Saka Energi Indonesia, a subsidiary of Perusahaan Gas Negara, has hit the market for a financing of up to $600m and is giving banks the option of booking the loan onshore or offshore.