Loans and High Yield

Private equity, once the acquisition champion, is being trounced by boring old corporate buyers and IPOs. But 2015 will still be a year to savour for levfin.

Ineos, the Swiss-registered chemicals company, has set price guidance on its €750m refinancing loan in dollars and euros, slightly ahead of Tuesday’s 2pm lender call.

Campofrio Food Group, the Spanish meat processor, has brought back to the market a €500m high yield bond it pulled in November.

Times Property Holdings printed a $280m five year non call three bond this week in what was only the fourth Chinese high yield property firm to tap the international market in 2015. Even though the amount raised was small, its significance is anything but. A recovery for the much maligned sector could finally be on the cards.

Times Property Holdings took advantage of an improving market backdrop for the Chinese real estate sector to print a bigger than expected $280m five year non call three bond on March 2.

India’s largest residential property company Lodha Developers is looking to come to the market for its debut offshore bond, three months after it pulled the plug on what should have been its maiden issue.

Ineos, the chemicals company now registered in Switzerland, has hired five banks to arrange its €750m refinancing project to replace bonds with term loans.

German cable company Unitymedia has continued its refinancing run in robust fashion, pricing €700m of 12 year non-call six senior unsecured bonds at 3.75% on Monday.

Ineos, the chemicals company now registered in Switzerland, is launching a €750m refinancing project to replace bonds with term loans.

Survitec, the UK survival equipment provider, allocated its £250m acquisition loan late on Friday, reverse flexing to more borrower-friendly terms for the second time.

India’s Yes Bank is gearing up for a second green bond sale just days after issuing what became the country’s first green debt. On the back of strong demand, the bank was able to raise twice the amount it originally targeted and looks to lead the green financing the government is stepping up to encourage.

We have oft remarked that loans bankers are generally a serene bunch. With little that ruffles their market, they appear as Zen-masters.