Loans and High Yield

Future Retail made a $14m payment on its outstanding dollar bond this week, narrowly avoiding a default.

One of the more unusual green bonds of 2019, the $125m high yield issue for Teekay Shuttle Tankers, which operates ships serving the offshore oil industry, was tapped on Friday for $75m under the company's new name of Altera Shuttle Tankers.

Liberty Global's subsidiaries have priced two sets of term loan 'B's to support its $7.4bn acquisition of mobile phone company Sunrise, less than a year after the latter’s plans to acquire Liberty’s subsidiary UPC fell through.

M&G Real Estate Asia has received a W115bn ($96m) green loan from OCBC Bank to finance a green building in South Korea.

UBS reckons it has a hit upon a ‘unique formula’ for growth as it expands its investment banking offering to its high net worth clients, writes David Rothnie.

Europe’s leveraged finance market is forecast to be hit by the biggest wave of defaults since 2009 next year, yet there is a disconnect with market sentiment. As Standard & Poor’s predicts the default rate to reach 8.5%, bullish investors continue to pile in. Silas Brown and Mike Turner report.

Casino developer Wynn Macau has made a rapid return to the bond market for an $850m deal, riding on an uplift in sentiment following the slow easing of travel restrictions to the Asian gambling hub.

Standard & Poor’s expects the European default rate to climb to the highest level seen since the fallout from the last financial crisis.

The sharp rise in corporate fallen angels this year has not led to sharp yield rises for the effected companies, leaving people on the front lines of European corporate capital markets scratching their heads to try and work out why.

The speed with which leveraged finance investors have embraced environmental, social and governance issues in the past 18 months has created an information impasse in the market, which the investors’ trade body is striving to ease.

Valeo Foods, the Irish food producer behind brands such as Jacob’s Cream Crackers and Rowse’s Honey, has closed an amendment and extension deal for its euro and sterling leveraged loans.

Barclays has announced a new head of logistics banking for Europe, the Middle East and Africa.