Loans and High Yield

Hong Kong Broadbank Network has increased a loan to HK$5.5bn ($709m) after attracting 20 participants during syndication.

Bonds from India’s Future Retail rallied in the secondary market this week, after Reliance Industries got approval to buy the struggling business.

German flag carrier Lufthansa mandated a new unsecured bond on Monday, two weeks after it stormed into the convertible market on the back of the rally sparked by positive Covid-19 vaccine trials. The airline might have lost its investment grade ratings, but it is sticking to high grade bond execution norms, prepping a Reg S-only unsecured issue from its EMTN shelf.

Cineworld has stapled warrants for 9.9% of the company to its latest tranche of emergency funding, a $450m lifeline that comes with an undisclosed but eyewatering interest rate. The new cash has unlocked a further round of covenant waivers from its revolver banks, and should give the company a chance to keep trading until coronavirus vaccines bring back a semblance of normality to the economy.

China Evergrande Group got a boost to its bond and stock prices on Monday, after its flagship subsidiary convinced a large group of equity holders not to exercise a put option. The company also secured two new state-backed investors.

Touch screen manufacturer General Interface Solutions, an affiliate of Foxconn Technology Group, is seeking a $300m loan to refinance a deal set to mature next year.

Two Chinese banks have agreed to arrange a $1.1bn loan to support China Biologic Products Holdings’ delisting from the Nasdaq stock exchange.

Sweden’s EQT, the private equity company, has followed up on its summer signing of the biggest ever ESG-linked subscription facility with a second deal of the same maximum size. Lenders say this is further proof that ESG is becoming more important to private equity.

A consortium led by Gaw Capital Partners and Schroder Pamfleet is set to mandate United Overseas Bank and Standard Chartered for a loan to support its acquisition of Cityplaza One, according to two sources close to the situation.

Changxing Urban Construction Investment Group Co, a Chinese company focused on construction services, announced its debut dollar transaction on Thursday. But the deal was not priced as of Monday, GlobalCapital Asia understands.

Vietnam’s Masan Group Corp has signed a $200m loan with four banks to support a capital injection into a subsidiary.

Ford shrugged off its loss of investment grade status to return to the Swiss franc market this week after a 19 year absence to print a three year deal targeted at private bank investors.