Loans and High Yield

Host Europe, the German online hosting provider, has been delayed in closing books for its £535m loan for the acquisition of Intergenia, after the consent process for the deal took longer than expected.

German medical care company Fresenius intends to allocate the commitments to its refinancing loans, valued at around €3bn, by Friday.

More European corporate high yield bonds were issued in January than in the whole of the previous three months. But while some investors and analysts are putting the boom down to the European Central Bank's quantitative easing, bankers are keen to give the market more credit for inherent strength.

Swansea Bay tidal lagoon — APRR — Esmalglass — Danube Foods

Tikehau Capital has kept the momentum going in its team building operations, appointing Ignazio Rocco di Torrepadula as a senior adviser in Italy.

German medical care company Fresenius intends to allocate the commitments to its refinancing loans, valued at around €3bn, by Friday.

A raft of requests for proposals by India state owned companies at the beginning of this year has livened up the loan market, but bankers believe the real opportunity lies in funding privately-owned Indian corporates. Liquidity that was not available earlier to these companies is now theirs to tap into as banks hunt for better returns and India’s macro picture improves, writes Shruti Chaturvedi.

The success this week of 2015’s first high yield property bond from China has sparked talk of a post-Chinese New Year comeback for the much maligned sector. While this bodes well for the Chinese, the opposite holds true for southeast Asian issuers, which had stepped up to fill the gap, writes Rev Hui.

The month-long gloom in Chinese property credits is finally dispersing after Shimao Property Holdings priced the sector’s first high yield bond of the year on February 3. Not only did the deal attract a huge order book but it also managed to attain solid pricing.

Aluminium company China Hongqiao is braving rough conditions to seek a $600m loan, which is being led by five banks. The borrower is offering generous returns, given the heightened risk surrounding the commodity sector.

The Asian high yield market has finally opened up, with issuers pouring in to get a start on their backlogged funding. But as a pair of first-time southeast Asian companies were forced to extend bookbuilding after failing to gain sufficient appetite, bankers said the market was not yet ready to embrace untested and unknown issuers.

The European high yield market on Tuesday keenly accepted the first triple-C rated deals of the year: a buyout financing bond from Swiss carton maker SIG Combibloc and a refinancing issue for Norske Skog, the paper company.