Loans and High Yield

Royal Bank of Scotland has moved its leveraged finance and high yield origination and structuring team out of its investment bank and into its Commercial and Private Banking division, where it will fall inside the ringfence when RBS implements the controversial UK bank segregation rules.

Editis, the second largest publishing group in France, has signed €465m of loans to help refinance a €480m facility due to mature in January 2018.

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.

Solina, the French food ingredients supplier, is arranging €362m of new debt facilities in relation to its buyout by Ardian.

European financial sponsor-related leveraged loan borrowing has fallen 18% so far this year, to the lowest level for three years.

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.

Solina, the French food ingredients supplier, is arranging €362m of new debt facilities in relation to its buyout by Ardian.

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.

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.

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.

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.