Loans and High Yield

Rizal Commercial Banking Corp (RCBC) is in the market for a $200m three year loan, making it the fifth lender from the Philippines to seek funds offshore this year. Two mandated lead arrangers and bookrunners are leading the syndication. The deal comes with a $100m greenshoe.

China Modern Dairy has increased the size of its second overseas syndicated loan to $300m from a launch size of $150m, after two dozen retail lenders joined in general. The loan attracted lenders from Taiwan, China, Hong Kong, Japan, Indonesia, India and Korea.

UniCredit has moved quickly following departures to promote two of its leveraged finance bankers to head the bank's London-based high yield syndication and origination teams.

Pemira debt managers has announced the final closing of a €1.1bn direct lending fund, Permira credit solutions II, further increasing the weight of capital in the mid-market.

Ezion Holdings has opened books for a five year Singapore dollar bond offering, which is supported by a loan facility from DBS, the first time such a structure has been seen in the city state.

China concerns have failed to dissuade European corporate borrowers from going about their capital markets business this week, with a number of bonds in the works and acquisition loans progressing.

Ashtead, the UK-based equipment rental company, has increased a credit facility to $2.6bn to fund an expansion of its fleet.

International schools operator Cognita on Tuesday began roadshowing its £280m bond, becoming the second borrower from the private education industry in the speculative grade market this year.

Vietnam’s Sacombank has completed an overseas fundraising of $50m, with a group of five lenders supplying the funds. The loan comes close on the heels of a borrowing by Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) that is now in its final leg. An overall lull in the syndicated loan market this year has driven banks to look beyond larger southeast Asian economies for business.

Sri Rejeki Isman (SriTex) is seeking to return to the dollar bond market for up to $420m in the second half of the year.

Citic Capital Holdings has hit the market for a HK$1.8bn ($232m) three year loan, with six mandated lead arrangers and bookrunners in tow. The company is paying a lower margin for the three year borrowing than for a two year it signed in 2013.

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.