Loans and High Yield

India's TML Holdings used its ties to parent company Tata Motors to appeal to investors in a $300m bond sale on Thursday.

Taiwan’s printed circuit board manufacturer Apex International has closed a $50m loan for its Thai business.

Sunac China Holdings tapped two of its dollar bonds on Thursday, using up the $320m left of its offshore issuance quota.

MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.

Goldman Sachs is preparing a £225m high yield bond to take out the acquisition financing for Lone Star’s take-private of UK retirement home developer McCarthy & Stone, according to documents backing the offer.

Moody’s has issued a stark warning on the precarious position of corporates if there is another mass outbreak of Covid-19 that slows economic recovery. But senior lenders say the syndicated loan market is once again ready to provide liquidity at short notice.

Unrated real estate company Ganglong China Property Group sold its maiden dollar bond on Wednesday, nabbing $150m from the high yield transaction.

Deutsche Lufthansa decisively showed that bondholders will buy airline credit once again, without relying on extra security, extra upside or anything other than a broad-based mood of credit euphoria that is sending risk assets soaring.

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The allocation of Indonesian instant noodle maker Indofood CBP Sukses Makmur’s $2.05bn-equivalent acquisition loan has been finalised, after the lead banks closed the syndication earlier this month.

Shui On Land tapped its 5.75% 2023 bond on Tuesday for an additional $200m, bringing the unrated deal to $500m.

Balkan telecoms and cable company United Group slipped into the high yield market on Monday to launch a drive-by bond as it released its earnings results, seizing on strong market conditions to repay its revolving credit facility and part-fund the purchase of Greece’s Forthnet.