Loans and High Yield

Private equity firm TPG named Jon Winkelried co-chief executive, alongside TPG co-founder and chief executive Jim Coulter.

TDR Capital is arranging £745m of senior loans to finance a £1.3bn minority stake investment in Euro Garages, one of the UK’s largest independent operators of petrol station forecourts.

Autodistribution, the French car parts distributor, has priced its €237m of pay-if-you-can notes, to finance its buyout by Bain Capital.

Platform Specialty Products, the Florida headquartered chemical products manufacturer, is holding bank meetings today (Thursday) in London for $1.475bn of loan facilities backing its $2.1bn acquisition of UK based chemicals provider Alent.

Indonesia’s Trikomsel Oke looks set to miss a payment on its Singapore dollar bonds, the first such case in more than six years in the city-state. Although the move is expected to increase volatility in the short term, sources hope it will also shake up any complacency in the market, writes Narae Kim.

The syndication timeline for a $145m loan backing the Blackstone Group’s acquisition of some Indian assets has been pushed back.

Three Indian state-owned companies have sent out separate requests for proposals for borrowings totalling $775m to refinance existing debt.

The central bank of Laos has rolled out a debut offshore syndication of up to $200m as it looks to diversify its funding channels. It has decided to take a strategic approach to its financing by tapping only a select pool of liquidity, writes Shruti Chaturvedi.

Gala Bingo, the retail bingo division of Gala Coral, has been bought by Caledonia Investments for £241m, using a £155m senior debt facility and a £98m cash payment.

Camelia Robu and Paramvir Sethi, two senior leveraged finance bankers previously with Deutsche Bank, will take on new roles in December at HSBC’s leveraged and acquisition finance unit in London.

Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.

Hybrid capital bankers who have insisted for the last few years that the rating agencies’ criteria were now stable and settled will be eating their words today. Standard & Poor’s has stripped the equity credit from 29 corporate hybrids, though it claims this is not a criteria change.