Loans and High Yield
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Commitments are due by 8pm London time on Thursday, November 12, for €200m and $750m term loan add-ons to First Data Corp’s loan facilities that mature in 2022. -
Veritas, the IT systems management provider, caught some officials unaware as it held bank meetings on Tuesday for a $2.45bn cross-border term loan ‘B’, backing its $8bn acquisition by the Carlyle Group.
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Solina, the French food ingredients supplier, is arranging €362m of new debt facilities in relation to its buyout by Ardian.
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European financial sponsor-related leveraged loan borrowing has fallen 18% so far this year, to the lowest level for three years.
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The wide-ranging management shake-up at Deutsche Bank is set to continue, after it picked Goldman Sachs partner Alasdair Warren to lead its new corporate and investment banking unit in Europe, the Middle East and Africa.
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Solina, the French food ingredients supplier, is arranging €362m of new debt facilities in relation to its buyout by Ardian.
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Primary activity has finally returned to the Asia ex-Japan high yield market following a hiatus of close to three months, with Future Land Development Holdings launching a deal on Thursday. While the pipeline remains thin, market participants are taking heart that not all is lost for the asset class, writes Rev Hui.
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Veritas, the Californian data management company, has become the first US borrower to roadshow for a euro high yield bond in the second half of this year — and bankers say it will soon have company.
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Commitments are due by 8pm London time on Thursday for €200m and $750m term loan add-ons to First Data Corp’s loan facilities that mature in 2022.
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Tata Chemicals Europe’s £140m ($216m) dual-tranche facility has been launched into limited syndication, marking the borrower’s return to the syndicated loan market after a four year break.
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Two leasing companies have rolled out their loans into general syndication, with China Universal Leasing seeking Rmb800m ($126m) from onshore lenders and CDB Leasing looking for $300m offshore.
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Sri Lanka’s Bank of Ceylon is seeking a fundraising of up to $200m, returning to loans after a two year absence. But while the borrower is approaching lenders at a time when they are very liquid, it may struggle to woo new banks, writes Shruti Chaturvedi.
