Loans and High Yield

The Loan Market Association has added four new board members, as its membership has just surpassed 600 organisations.

Host Europe, the German online hosting provider, has slashed margins on €406m-equivalent of leveraged loans, as an oversubscribed order book showed there was life yet in repricings.

A Cambodian borrowing has hit the offshore syndicated loan market. The $80m deal for Khmer Brewery has three banks at the helm, which are understood to be targeting banks that have an existing presence in the southeast Asian nation.

Asia ex-Japan's primary dollar bond market was paralysed this week by the twin terrors of a Federal Open Market Committee meeting and an escalation of concern about the Greek economy. The market's usual June exuberance was nowhere to be seen, and many bankers are not expecting activity to resurface until next month at the earliest, writes Narae Kim.

Zhongding HK eyes €150m — China Singyes launches $150m facility — Inventec ups refi size to $480m

A rare US dollar syndicated loan to finance a commercial real estate transaction in India has raised the tantalising prospect of more liquidity being readily available to the many foreign investors eyeing similar assets in the country. But there is no trend yet, and the deal could remain an unusual curiosity for some time, writes Shruti Chaturvedi.

Shenzhen-listed Financial Street Holdings drew a crowd of investors for its three year dim sum offering. The Rmb1.5bn ($241.6m) print saw more than Rmb4bn of demand.

M7 Group, the Luxembourg satellite and online TV broadcaster, has closed a €500m loan rollover and dividend recapitalisation.

Worldwide Flight Services, the cargo and luggage handling business owned by LBO France, is roadshowing a €225m unsecured bond to support its acquisition by Platinum Equity.

Solar power company China Singyes Solar Technologies has hit the offshore loan market for a $150m three year fundraising, with two banks at the top. The loan follows on the heels of another fundraising by a company in the same industry — Xinyi Solar. But the China Singyes facility offers a substantially higher return.

It’s been a long time since the European investment grade corporate bond new issue market fell silent for eight days, but that has just happened, as a volatile Bund market and worries about Greece’s fraught negotiations with its creditors have made issuers and investors wary of the primary market.

Dim sum regular Caterpillar Financial Services Corp priced its first offshore renminbi (CNH) bond of the year on June 16, raising Rmb1bn ($161m). The company decided to tap the market this week after being encouraged by the recent bullish secondary performance of its outstanding bond.