Loans and High Yield

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.

Birla Carbon and Fiat India have launched their respective dollar loans into syndication, with the former seeking $925m and the latter $250m.

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

Abengoa's banks refused it a vital $1.5bn of new loans over the past fortnight, causing its rescue investor Gonvarri to pull out, sources said today. But Abengoa could yet avoid bankruptcy, they argued.

Holders of credit default swaps referencing the Spanish renewable energy company have asked the International Swaps and Derivatives Association (ISDA) whether there has been a bankruptcy credit event. But Abengoa had not yet formally requested bankruptcy protection as GlobalCapital went to press.

OTE, the Hellenic Telecommunications Organisation, returned to the bond market on Tuesday with a €350m four year at a yield of just 4.625%, despite high yield bankers saying the mood in the market was still unstable.

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.

Abengoa may be nearing the end of the line. After umpteen upsets and false dawns since it shocked the market a year ago by making conflicting noises about whether its green bond was full recourse, Abengoa is now on the verge of bankruptcy.

Thailand's Precious Shipping Public Company (PSL) is looking to make its maiden foray into the offshore bond market with a Singapore dollar deal early next year.

Chinese pair Guangdong Rising Asset Management (GRAM) and HNA Group hit the dollar bond market on Wednesday as they look to wrap up their respective fundraisings ahead of the US Thanksgiving holiday.

OTE, the Hellenic Telecommunications Organisation, held an investor call on Tuesday November 24 for what could be the first Greek corporate bond issue in euros this year.