Loans and High Yield
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UK survival equipment provider Survitec is aiming to allocate its £250m loan on Friday, as investors review the deal’s documentation. -
Unitymedia KabelBW, the German cable company, issued a €500m high yield bond on Wednesday — the only issue in the market since last Thursday, as companies prepare their financial results.
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With many companies’ results now out of the way, issuers have begun pouring back into the European bond market. The only thing is, they’re (almost) all American.
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The £340m loan for Sky Bet is trading up in the secondary market, despite investor pushback during its syndication.
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Survitec has reverse flexed its £250m acquisition term loan, the second leveraged loan borrower to tighten terms this week, as investors' options for paper remain slim.
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Constantia Flexibles, the Austrian food packaging company, has cut margins on its €1.15bn leveraged loan for the second time since hitting its deadline for commitments.
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Indonesian pulp and paper products company Asia Pacific Resources International (April) is said to be mulling a multiple tranche fundraising of around $1bn. The size of the deal could vary depending on a greenshoe, said bankers.
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High yield investors appear so far to be ignoring — or overlooking — rising risks faced by UK food suppliers, as supermarkets wage a price war.
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Survitec, the UK survival equipment provider, is making changes to the term sheet on its £310m acquisition loan before completing syndication of the deal.
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BlueBay and HSBC have provided debt to support a secondary buyout of Synexus, the UK clinical trials coordinator, by LDC, the private equity arm of Lloyds Bank.
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Indian textile firm Alok Industries is in the market with a $375m export performance bank guarantee backed (EPBG) loan. The borrower has picked three European banks to lead the transaction, which comes with an undisclosed upsize option.
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Indian paper company Ballarpur Industries is seeking to forge new overseas banking relationships with its latest fundraising of $75m. The deal, which is being led by Crédit Agricole, launched into general syndication in January.
