Loans and High Yield

The European Central Bank has asked European banks to provide very detailed information their leveraged lending practices, to a very tight deadline, in what is widely believed to be the prelude to regulation of the market.

Schenk, the German measuring and processing technology manufacturer, set out price guidance on its €605m refinancing loan at a bank meeting on Tuesday.

It’s back to business in the corporate bond market after a quiet patch last week, when a combination of rates volatility and European public holidays kept issuers away from the market.

Rexel, the French maker and distributor of electrical supplies, is roadshowing a €500m high yield bond that will refinance a dollar bond and be used for general business needs.

Investors have fought back against the tide of leveraged loan repricings, forcing printing ink maker Flint Group to keep pricing at the wide end of guidance on its €1.5bn transatlantic deal.

Terex, the US maker of lifting and materials handling machinery, has set out price guidance for a €199m loan repricing that will bring its margin into line with Terex's dollar term loans.

China Aoyuan Property Group priced a $250m bond this week, proving that sentiment has improved to the point where the market is ready to embrace lower rated property developers from China.

ConvaTec, the maker of medical goods including wound dressings and catheters, will hold a bank meeting on Tuesday to market a €1.5bn-equivalent refinancing project that will take out loans and bonds.

BSN Medical, the German medical devices company, is holding a lender call at 3pm on Monday afternoon to market a €360m refinancing loan.

Terex, the US maker of lifting and materials handling machinery, is arranging a €199m loan to refinance debt in euros, with lender calls in London and New York today.

Indomobil Finance Indonesia, which launched a $100m fundraising into general syndication on April 14, has already netted $40 in commitments.

Aluminium company China Hongqiao has wound up its latest borrowing at $597m, lower than the launch size of $600m.