Loans and High Yield
-
French smart card manufacturer Linxens has launched $1bn of leveraged loans to back its buyout by CVC. The deal has a hefty dollar slice. -
Societe Generale has lost a senior high yield credit trader from its London operations.
-
Altice is back in the European loan market, but for once not with an extravagant M&A financing. This month, Patrick Drahi’s telecoms group is seeking to refinance debt under its revolving credit facilities.
-
NagaCorp, which runs the only licensed casino in Cambodia's capital, Phnom Penh, is said to be sounding out the market for a borrowing of around $300m to fund its expansion in Cambodia.
-
Europe may be heading towards breaking its long run of record years for high yield bond issuance.
-
Details of the invitation for a $300m loan for troubled carrier Air India are out. The bank had mandated Citi and State Bank of India to lead the deal in May.
-
Egypt’s Banque du Caire is in the market for a $250m one year facility, looking to make the most of abundant liquidity across Asia by sending out invitations to banks in the region. The deal comes as financial institutions from Brazil and Turkey are also tapping Asian lenders.
-
A syndication for a €600m ($663m) two year financing for China National Chemical Corp (ChemChina) is currently under way. Two French lenders are leading the deal and they have invited a select group of lenders to participate.
-
Leveraged loan market participants were in uncertain mood this week. Greek volatility made its mark on the market but not all deals have gone wide as a result.
-
HSBC has lost its global head of loan trading, as it merges distressed and loans trading into a wider group.
-
Pemberton Capital Advisors, a UK asset manager, has won €547m of commitments for a fund that will lend to mid-market companies in the UK and Europe, adding another player to this increasingly crowded market.
-
Bankers don’t expect margins for investment grade loans in southern Europe to change in the near future, although leverage deals in Italy, Spain and Portugal could widen.
