Loans and High Yield

UK generic pharmaceuticals company Amdipharm Mercury — also known as AMCo — is closing books on a €163.7m leveraged, having tightened pricing on the back of strong demand.

French car maker Groupe Renault may have been the only European high yield borrower in the top 20 global capex champions’ list published by Standard & Poor’s on Monday, but car makers overall gained positions in the ranking.

A $100m three year offshore syndicated term loan for debutante Mitra Pinasthika Mustika Finance has been oversubscribed. The deal, launched into general syndication in May, is due to close imminently.

Korea Development Bank has opened books for an offshore renminbi offering that will be dual listed in Singapore and Taipei, marking the first such deal for the issuer and only the third one ever from a South Korean name.

Greentown China Holdings successfully persuaded bondholders of its two existing dollar notes into a new $500m five year non call three dollar bond on July 31. Bankers on the deal say the exchange offer ended up satisfying both the issuer and investors.

Asia’s US dollar bond market has started the week with a bang, with China Auto Rental (CAR), Peking University Founder Group and Shanghai Electric opening books for their respective transactions on Monday, August 3.

Philippine oil refining company Petron Corp, which recently mandated seven banks for a $550m refinancing loan, has proposed an amendment related to a $475m facility it sealed in 2014.

The Development Bank of the Philippines (DBP) is said to have zeroed in on three lenders to arrange its financing of up to $300m.

Greentown China Holdings has opened books to a new five year non call three dollar bond on July 31 following the end of an exchange offer plus consent solicitation exercise a day earlier.

Chinese conglomerate HNA Group will hit the road ahead of its Reg S offshore bond in dollars, while its subsidiary HNA Capital has been waiting for the right issuance window for a dollar offering. The subsidiary wrapped up investor meetings in Asia and Europe last week.

Numericable set final pricing on its €800m leveraged loan late Monday, in a refinancing transaction that bankers said yielded few surprises with its speed and success.

Weener Plastik, the German plastic packaging systems provider, has allocated a €250m acquisition loan on the back of heavy oversubscription.