Loans and High Yield

Arrow Global, the UK distressed debt buyer and manager, on Wednesday issued a €110m tap of its €225m floating rate high yield bond, to support business purchases in the UK and Portugal.

Coal miner Adaro Energy Indonesia is speaking to its relationship banks about refinancing existing debt, and is planning to send out a request for proposals next week.

The European corporate bond market started the week in cautious optimism, but this had petered out by Tuesday.

ReNew Power Ventures has become the second Indian corporate to issue a green bond, coming close on the heels of the maiden deal from the country. With a credit enhanced structure, the company was able to enjoy a substantial pricing benefit.

Philippines’ Rizal Commercial Banking Corp (RCBC) has signed a larger $280m loan with 18 lenders on board.

A $145m loan backing the Blackstone Group’s acquisition of the Indian business process outsourcing (BPO) operations of the Serco Group is likely to launch this week.

German car parts maker Schaeffler on Monday issued a full redemption notice for all bonds issued by its holding company as it seeks to create a new financing structure.

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'.

Two banks have launched a $700m three year borrowing for Fosun Industrial, an affiliate of Chinese conglomerate Fosun International.

Yingda International Leasing, a company owned equally by General Electric and China’s State Grid Corp, has raised the size of its three year offshore borrowing to Rmb600m ($94m) from Rmb500m, partially exercising a greenshoe option.

JP Morgan Asset Management has hired an experienced high yield credit portfolio manager to its JPS Credit Opportunities Fund.

Interoute Communications, Europe’s largest operator of cloud services, began offering €590m of bonds on Monday to fund its recent takeover of peer Easynet from the UK’s MDNX Group.