Loans and High Yield

Credit Suisse has moved fast to appoint a director in high yield sales at its London office after the retirement from the business of long-serving Emma Balaam.

German cable company Tele Columbus is allocating a €435m leveraged loan that backs its acquisition of rival Primacom, setting out its ambitions for consolidation in the sector.

Pricing has been widened on the £300m sterling cov-lite loan backing Clayton, Dubilier & Rice’s acquisition of Motor Fuel Group, the UK petrol station forecourt operator.

Amdipharm Mercury, the UK generic pharmaceuticals company also known as AMCo, has allocated a €603.2m loan that raises new money and reprices existing facilities.

Spain is often held up as an example of how austerity works, and Markit data published on August 5 provides some support to this view.

Asia's high yield bond market finally saw some overdue activity over the past week, with four deals pricing. But the sector is by no means invincible — eHi Car Services had to pull a deal amid tepid demand. But despite that setback, bankers are confident of printing more deals through the summer, writes Narae Kim.

Amdipharm Mercury, the UK generic pharmaceuticals company also known as AMCo, has allocated a €603.2m loan that raises new money and reprices existing facilities.

Research firm CreditSights on Thursday said in its latest report about the European high yield market that issuance figures in the last two weeks of July were lifted to record levels by acquisition funding deals.

A $480m fundraising for notebook maker Inventec Corp has launched into syndication, with one bank co-ordinating. A group of 17 banks is interested in the deal.

Belgian and German medical diagnostics provider Amedes bought some investors who had initially declined the €525m loan back into the fold this week as deal supply fell.

CVC Capital Partners’ Cerved Group, an Italian credit information provider, will call €530m of bonds in January 2016, funded by a €660m loan, which will make the firm interest savings.

There is little sign that summer holidays are keeping investors away from the corporate bond market this week: while the flow of deals may be slower than normal, issuers that have decided to tap the market are still receiving a warm reception.