Loans and High Yield

Ethypharm, the French pharmaceuticals company, has allocated €287.5m of new loan facilities at a wider margin than it initially proposed.

Azelis, the Antwerp-headquartered speciality chemicals distributor, will hold bank meetings in New York today (Friday) and in London on Monday for a $675m transatlantic acquisition loan.

Global Blue, the Swiss tourist VAT refund company, held bank meetings on Wednesday for a €221m seven year term loan ‘C’ dividend recapitalisation loan.

Swissport, the world’s largest air cargo handling company, met banks this week for €1bn-equivalent of new loans for its acquisition by HNA, a Chinese private equity firm.

Citigroup has promoted Paul Simpkin to be chairman of EMEA leveraged finance and Richard Basham to be head of EMEA leveraged finance and loans.

Perform Group, the UK digital sports media firm, sold £175m of secured notes on Wednesday, after cutting down the offering from £200m as investors proved cautious.

Iris World Enterprises, an affiliate of Taiwan's Foxconn Technology Group, has picked three banks for its $300m borrowing.

Standard Chartered’s former head of debt capital markets for Hong Kong, Peter Szekely, has moved to a new position at Australia and New Zealand Bank.

Azelis, the Antwerp-headquartered speciality chemicals distributor, will hold bank meetings in New York tomorrow and in London on Monday for a $675m transatlantic acquisition loan.

Jindal Steel & Power and Tata Steel are seeking covenant waivers on their respective offshore loans, putting the spotlight on tough conditions facing their industry. India’s steel companies, which expanded rapidly over the past few years, are strapped with a heavy debt burden amid lower earnings, forcing them to restructure their existing fundraisings. Shruti Chaturvedi reports.

The Asia ex-Japan bond market sprung to life on November 12 with China Huarong Asset Management, China State Construction Engineering Corp and Beijing Properties opening books for dollar bonds, while Korea Housing Finance Corp (KHFC) opted for a covered bond and Malaysia’s Axiata Group, a sukuk.

Global Blue, the Swiss tax-free shopping company, is seeking new term loans ‘A’, ‘B’ and ‘C’, totalling around €260m, according to an investor.