Loans and High Yield
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Busy Bee, the UK nursery and early education provider for under-fives, aims to allocate its £210m refinancing loan by Thursday afternoon, with pricing tight but not too aggressive.
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After Haversham Holdings bought British Car Auctions in April, the result of its merger, BCA Marketplace, has launched a £300m post-IPO refinancing loan. -
Dufry, the Swiss travel retail group, has closed the term loan stage of its bridge loan takeout. The facility is oversubscribed and likely to come at a large size.
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HES Beheer, the Dutch ports logistics company, is closing books on its €100m add-on loan on Thursday, with the original issue discount still undecided.
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David Armstrong, chief executive of Wasps, has defended the English rugby club’s bond issue against accusations that it is too risky for the listed retail bond market.
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Two banks are due to join Indonesian palm oil producer Royal Industries’ $500m dual trancher. The loan has had a long run in syndication, with the deadline for commitments extended twice already.
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Italian construction company Società Italiana per Condotte d’Acqua aims to price its first bond, €300m of senior unsecured notes, next week.
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The Asian bond market is showing no sign of slowing down, with a flush of deals capping the end of April. This, however, is only a sign of things to come, with expectations that the buoyant activity will last until the middle of May, write Rev Hui and Narae Kim.
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UK nursery and early education provider for under-fives, Busy Bee is closing books on its £210m loan on Wednesday, with lenders expecting pricing to finish tight.
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Low cost airline Norwegian Air Shuttle is set to begin meeting investors on May 4 to sell its second high yield bond.
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On Tuesday, SIG Combibloc tried to slash the margin of its €2.1bn leveraged loan, which only closed in February. The packaging company wants to cut pricing by 100bp.
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Reliance Communications (RComm) finally made its debut in the dollar bond market on April 27 following an aborted deal last year. The borrower took no chances this time, with the $300m deal helped by an anchor order that covered two thirds of it.
