Loans and High Yield

Constantia Flexibles, the Austrian food packaging company, reached its deadline for commitments today on a €1.2bn leveraged loan. With scant deals in the market, investors look set to seize the bait.

ThyssenKrupp, the German steel and engineering firm, raised €1.35bn on Wednesday with a dual tranche bond issue that tightened 20bp during the bookbuild.

Europe’s corporate bond market is gathering pace. A subdued January in which issuers tiptoed around the Greek election and European quantitative easing, left plenty to do.

Swedish care provider Humana AB began marketing its first bond on Thursday, a Skr1.75bn (€180m) issue to refinance debt, after a busy period of acquisitions.

OVS, the Italian clothing producer and retailer owned by Gruppo Coin, is raising a €475m loan alongside its planned IPO, to pay down debt.

Armacell, the German insulation foam maker, is holding a lender call for its €65m five year add-on loan, which will fund bolt-on acquisitions.

Marlborough Partners, the leveraged debt advisory firm, has hired Rob de Bruin, a former associate director at US advisory firm Zolfo Cooper, to its London office.

The European high yield market’s record start to the year suffered a sudden halt for five days, in which the new issue market went quiet, in stark contrast with the slew of deals seen in January and early February. The reason? Investors never forgot how to discriminate.

Chinese private company Phoenix Healthcare has wrapped up the Taiwan targeted syndication of its $150m three year loan with a group of 11 banks.

India’s Yes Bank launched the country’s first green infrastructure bond on Monday, February 16, as the government looks to support debt issuance for environmental projects.

Hong Kong listed Fosun International has chosen three French lenders to supply funds for its acquisition of Club Mediterranee (Club Med).

UK ventilation supplier Volution has raised a £90m four year revolving credit facility with three banks.