Loans and High Yield

Concordia Healthcare Corp allocated its new debt facilities on Tuesday, one day before it was scheduled to complete its $3.5bn takeover of AmCo and after difficulties in the pharma sector led to a big price widening.

Wednesday’s shock market development saw short-selling research firm Citron allege that biotech firm Valeant Pharmaceutical inflated its sales figures by selling to “phantom captive pharmacies” in a plot reminiscent of the Enron scandal of over a decade ago.

Equniti — Innovation — Euskaltel — Symphogen — Octopus — NEOT

Abengoa, the Spanish renewable energy company, suffered yet another unsteady trading session on Thursday over revelations in a leaked KPMG report of a €250m cash deficit.

Equiniti, the payment processing services provider, has syndicated £400m of senior debt facilities in relation to its upcoming IPO.

China Universal Leasing is seeking to manage borrowing costs on an offshore Rmb1.5bn ($236m) loan sealed last year by changing the benchmark to the People’s Bank of China rate from CNH Hibor.

European high yield investors, who took a stand against the weakening of covenants with a letter of protest in February, say banks have taken no notice of their demands.

Germany’s third largest cable operator launched new loan facilities on Wednesday with a lender meeting at 1.30pm in London.

Concordia Healthcare Corp allocated its new debt facilities on October 20, one day before it was scheduled to complete its takeover of AmCo for $3.5bn.

Earnings blackouts have set in, subduing the investment grade corporate bond market in Europe — but that is no bad thing, as the market could do with some pent-up demand to give it some zip.

Oberthur Technologies, the French smart cards maker, is refinancing with €650m of new facilities in connection with its IPO, announced on October 19.

A syndicate banker on ING’s high yield and emerging markets desk has left his position at the bank.