Loans and High Yield

Royal Ten Cate launched a €520m senior facility on Monday 28th September to be used in the takeover of the Dutch textiles group by Gilde.

British operator of cloud services Interoute Communications’ €590m secured notes braved a rough primary high yield market on September 25 and recovered this week from an initial hit in the secondary.

Regulation of leveraged finance in the US remains one of the main topics of conversation, as well as a mixed blessing, for the European market, delegates at the 9th annual Leveraged Finance Conference in London were told on Monday.

Yuexui Real Estate Investment Trust (Reit) has sealed a $217m loan to back its acquisition of Hongjia Tower in Shanghai, with eight lenders coming on board.

Chinese developer Soho China has announced plans to buy back its existing bonds, a month after Moody’s and Standard & Poor’s each downgraded it by one notch.

Park Resorts, the UK’s largest holiday park operator, will syndicate a £550m term loan 'B' after bank meetings in London this week.

The European high yield market appeared to have woken up this week with three roadshows and €900m on offer — but only one borrower has printed, and investors have now little hope of an unequivocal improvement any time soon.

The tug of war over the Spanish renewable energy company Abengoa ended on Thursday, with the founding family caving in to at least some of its banks' demands, in return for their underwriting a €650m capital increase.

Coty, one of the world’s largest beauty companies and owner of brands including Calvin Klein and Marc Jacobs, is arranging a $1bn term loan 'B'.

Invitations are out for China Greenland Rundong Auto Group’s $100m three year term loan that comes with a $50m greenshoe. The deal, which has two banks at the top, is open only to senior lenders at the moment.

The Reserve Bank of India has proposed a new framework that eases rules for borrowers raising external debt, five months after the government released a report that recommended overhauling and liberalising the existing system.

Coal miner Adaro Energy Indonesia has initiated talks with its relationship banks for a loan to refinance existing debt, with a request for proposals expected soon.