Syndicated Loans - All Articles

  • Adani raises first US PP from India for a decade

    Adani Transmission has priced a $310m US private placement, becoming the first Indian company to raise money in that market since 2007. Although some investors still feel scarred by an Indian incident a decade ago, many see this as the dawn of an Indian PP revival.

    • 31 Jan 2020
  • Sustainable loans give banks strange urges

    New dynamics are appearing in the sustainability-linked loan market, as the product balloons and banks prepare for more intense scrutiny of their green lending activities. The trends highlight how unformed and confusing this young market still is, writes Jon Hay.

    • 30 Jan 2020
  • BPHA launches private placements as HAs still in vogue

    BPHA, a housing association headquartered in Bedford, is looking to sell US private placements, according to several market sources, as private debt remains readily available for UK HAs.

    • 30 Jan 2020
  • Toys or weapons? The choice for sustainable loans

    Some weird genetic mutations have been appearing in the hothouse of sustainable finance, where new green products are cultivated to beautify the grandees of the capital markets.

    • 30 Jan 2020
  • Storming second lien syndication opens up sub debt options

    The idea that companies can raise subordinated debt only through private or club deals was put into deep freeze this week, when ice-cream maker Froneri fully syndicated two second lien tranches as part of its €5.7bn refinancing. Owen Sanderson reports.

    • 30 Jan 2020
  • Barclays eyes victory in Europe’s global IB race

    Jes Staley’s strategy has been vindicated, with Barclays’s corporate finance bankers having a banner year. But it has to invest in its European franchise to cement its credentials as the region’s leading investment bank, says David Rothnie.

    • 30 Jan 2020
  • Loparex refi loan to price wide as bifurcation bites

    Dutch release liner manufacturer Loparex is launching a €186m term loan B to refinance the equity bridge, put in place by sponsor Pamplona when the company acquired its competitor Infiana last autumn. While the borrowing conditions are exceptionally benign for many, Loparex has struggled to make a good first impression.

    • 30 Jan 2020
  • Britvic sates investor appetite for food and drink

    UK soft drinks company Britvic has entered the US private placement (USPP) market via Rabobank and Santander, on the hunt for sterling debt. As the issuer is a regular and well-loved borrower among institutional investors, the transaction has been described by one banker as “as easy as they come.”

    • 30 Jan 2020
  • SSD players prepare for restructuring talks

    The Loan Market Association is set to restart its Schuldschein working group in February, with a workstream addressing credit restructuring. This is an early sign that the market’s heavyweights are taking this issue — which has damaged the Schuldschein’s reputation in some quarters — seriously.

    • 30 Jan 2020
  • Saint-Gobain eschews debt for Continental Building buy

    France's Saint-Gobain has met the shareholder and regulatory needs for its around €1.3bn purchase of US plasterboard company Continental Building Products, as the acquisitive construction materials company gets the thumbs up from ratings agencies for swerving the debt markets to fund the deal.

    • 30 Jan 2020
  • Anglo Pacific increases dollar revolver again

    Anglo Pacific Group, the London-listed, mining resources royalty company, has amended and extended its dollar revolving credit facility, which has now tripled in the last few years.

    • 29 Jan 2020
  • Issuers pile in but EM investors taking stock

    Three more CEEMEA issuers hit the screens on Wednesday with new bond mandates, but one US based EM investor said that after a stellar January he is taking stock and considering reducing his exposures.

    • 29 Jan 2020
  • Liberty Global’s UPC launches refinancing after failed Sunrise merger

    UPC, part of Liberty Global’s European telecoms empire, is marketing dollar and euro term loan ‘B’s to pay off a $1.14bn issue of 5.375% senior secured notes. The refinancing comes only a few months after Sunrise cancelled its takeover of UPC’s Swiss business — to the disappointed of Liberty.

    • 28 Jan 2020
  • Lenders need to find their way on Libor

    Loans bankers pride themselves on not succumbing to the knee-jerk reactions of their colleagues on the bonds desk. But the Libor transition is highlighting serious flaws in this approach and it is causing alarm among corporate treasurers.

    • 28 Jan 2020
  • Investec plucks healthcare pair

    Jens Lindqvist and Brough Ransom have moved from N+1 Singer to Investec to cover healthcare.

    • 28 Jan 2020
  • Goldman names new leaders for mid-market and sponsors units

    Olaf Diaz-Pintado has been named head of Goldman Sachs’s cross markets group for Europe, the Middle East and Africa, while the bank has appointed new regional heads for its financial and strategic investors group.

    • 28 Jan 2020
  • More calls for lenders to take Libor transition stance

    Corporate debt advisers have joined the call for lenders to make clear their plans for the transition away from Libor, as frustration takes hold among some bank clients that a solution still seems far away.

    • 28 Jan 2020
  • Debt-hungry Cocobod to close loan

    Ghana Cocoa Board, the central organisation for Ghana’s cocoa industry, will close a $600m syndicated loan this week, according to bankers. This loan is the borrower’s third outing in 12 months.

    • 28 Jan 2020
  • Lidl takes £500m loan in Asian-targeted deal

    German supermarket chain Lidl has raised a £515m-equivalent loan from a consortium of Chinese and Taiwanese lenders for two of its European subsidiaries, in the company’s first outing in Asian capital markets.

    • 27 Jan 2020
  • Thailand’s Indorama Ventures looks to launch Schuldscheine

    Indorama Ventures, a petrochemicals company headquartered in Bangkok, has mandated banks to raise Schuldscheine via a European subsidiary, according to several people familiar with the situation. The deal is a further sign of the instrument’s growing popularity in East Asia.

    • 27 Jan 2020
  • Warehouse REIT signs Libor-linked loan maturing in 2025

    London-listed Warehouse REIT has signed a £220m loan, as the UK urban warehouse owner switches from bilateral to club borrowing. The deal will need to be revisited well before its five year tenor is up, as it is linked to the Libor benchmark that will essentially become obsolete for sterling trades after 2021.

    • 27 Jan 2020
  • Lenders dismayed by Middle East volume drop

    Lenders are disappointed at the low levels of activity so far this year in the Middle East. The region’s loans market, which struggled last year to match 2018 volumes, will continue to struggle against the booming bond market, according to bankers.

    • 27 Jan 2020
  • Shawbrook eyes lending growth with new fintech appointment

    Shawbrook Bank has appointed a head of fintech strategy as it looks to launch a new cloud-based lending platform.

    • 27 Jan 2020
  • Aoyuan closes $230m loan with eight banks

    China Aoyuan Group has closed a $230m-equivalent club loan with eight banks.

    • 24 Jan 2020
  • Russian return poses lender dilemma

    Russian borrowers are hitting the loan market early this year, as they push for tighter margins and looser covenants as volumes shrink. Norilsk Nickel, the nickel and palladium producer, is refinancing an existing $2.5bn facility, which bankers say will have tighter margins than the original deal that boasted the slimmest margins of any Russian syndicated loan in 2017. But not all lenders are as willing to concede to the Russians, writes Mariam Meskin.

    • 23 Jan 2020
  • Credit Suisse rejigs IBCM after ‘tough year’

    Credit Suisse has streamlined its investment banking and capital markets operation (IBCM) and is confident that it will return to form after a chastening 2019, writes David Rothnie.

    • 23 Jan 2020
  • People moves in brief

    No more Vice at ICE — Barclays places Hill at risk — HSBC picks head of new illiquid credit syndicate unit

    • 23 Jan 2020
  • Sovereign debt at greater risk of being ‘stranded’

    The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.

    • 23 Jan 2020
  • EQT considers ditching credit arm as private debt turns sluggish

    Swedish PE firm EQT Partners has mandated JP Morgan to advise as it considers divesting its credit business. The strategic shift at EQT is happening as the private credit sector is getting increasingly crowded.

    • 23 Jan 2020
  • Bonds back on top as Techem changes tack

    High yield bonds are back on top as the capital markets funding tool of choice for leveraged companies. This week, Techem tweaked its loan repricing to add a heavy bond slug and take advantage of near-record low coupons on offer. That sets 2020 up with a very different tone from the past two years, when an ever-growing CLO market meant bonds struggled to compete with loans, writes Owen Sanderson.

    • 23 Jan 2020
  • UK M&A back with a Brexit bounce

    UK defence company BAE Systems announced its biggest acquisition for more than a decade this week, spurring hopes for a wave of UK M&A now the Brexit endgame is in sight.

    • 23 Jan 2020
  • PE seeks new exit as MiFID grinds public markets

    Private equity firms are looking at different ways of monetising their investments, rather than the usual IPO routes, as regulation makes smaller firms less viable in the public markets. Alternative capital providers outside the usual buyout community are also boosting their allocations to private assets.

    • 23 Jan 2020
  • DeA Capital claims Italy’s first green real estate loan

    DeA Capital Real Estate has signed an €85m green loan, which lenders say is the first in the Italian property sector.

    • 23 Jan 2020
  • Corp finance chief Wallace to leave HSBC

    HSBC is looking for a new head of corporate finance coverage to replace Matthew Wallace, who is quitting the firm. Meanwhile, Simon Derrick and Michael Ellam have been handed new jobs as the bank reorganises the way it covers investors and public sector institutions. In Asia Pacific, Rami Hayek is leaving his post.

    • 23 Jan 2020
  • Techcombank nears debut as Vietnamese borrowers eye international loan market

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is making its second attempt to raise a syndicated loan, after pulling a deal in 2017. It is one of several Vietnamese borrowers now planning a debut in the international market, reports Pan Yue.

    • 23 Jan 2020
  • USPP market eyes Europe’s ESG model

    Several US private placement agents have told GlobalCapital that their market is finally starting to take sustainable financing seriously. But while there is an evident buzz, most feel that anything tangible, such as pricing advantages prompted by dedicated environmental, social and governance-focused funds, is still far off.

    • 23 Jan 2020
  • NLMK joins Russian sustainability-linked loan trend

    Novolipetsk Steel, one of Russia’s largest steel producers, has amended an existing loan to include sustainability-linked pricing. The deal is the latest in a string of green financings in the country.

    • 22 Jan 2020
  • Torm refis bank debt as IMO 2020 kicks in

    Denmark's Torm has signed $496m of bank loans, as new regulations affecting the global shipping industry take hold.

    • 22 Jan 2020
  • Sovereigns come to play in CEEMEA primary bond market

    CEEMEA and Lat Am investors and analysts are being kept busy by heavy primary market activity this week — which has been notable for the entrance of big sovereign trades, though there has been plentiful activity across asset classes. But a recent rate cut in Turkey and the outbreak of a Sars-like virus in Asia are also drawing attention.

    • 22 Jan 2020
  • Levfin issuers have never had it so good

    Leveraged credit is firing on all cylinders. The best issuers are breaking coupon and margin records and there are bold dividend deals and major league new money LBOs.

    • 22 Jan 2020
  • BFI Finance returns for $75m loan

    BFI Finance Indonesia, which provides funding for automobiles, heavy equipment and properties, has returned to the loan market for a $75m borrowing.

    • 22 Jan 2020
  • UBS IB spends $80m on restructuring the workforce

    UBS’s investment bank spent around $80m from restructuring related to personnel at the end of last year. The Swiss bank has also said it will look into partnerships with other banks for its investment bank.

    • 21 Jan 2020
  • Banijay rolls out deal package for Peaky Blinders producer

    French TV production group Banijay launched on Tuesday a $2.373bn-equivalent financing package, consisting of secured and unsecured bonds, a term loan and a revolver, to pay for its takeover of Endemol Shine, a Disney- and Apollo-backed Dutch production company.

    • 21 Jan 2020
  • SSD arrangers await first wave of international deals in 2020

    Arrangers are confident that a wave of international issuers will enter the Schuldschein market soon, with German borrowers having kick-started proceedings at the beginning of the new year.

    • 21 Jan 2020
  • BAE's $2.2bn debt-backed acquisitions boost M&A spirits

    UK defence company BAE Systems announced its biggest acquisition for more than a decade on Monday, as analysts and bankers said last year's M&A slowdown was over and the floodgates were open for big volumes in 2020.

    • 21 Jan 2020
  • Techem adds bonds to refi package

    Techem has now added a €600m high yield bond to the planned repricing of its €2.3bn term loan B, in a sign that bonds are now the more competitive product for some issuers, especially those at the top end of the market.

    • 21 Jan 2020
  • DAE takes $300m in Chinese loan deal

    Frequent syndicated loan borrower and United Arab Emirates-based aircraft lessor Dubai Aerospace Enterprise has raised a $300m term loan with Chinese banks.

    • 21 Jan 2020
  • Intu preps rescue rights issue but needs a long-term plan

    Intu, the British real estate and investment trust focused on shopping centres, has confirmed it will be tapping its shareholders for equity capital in February, but sources say the company needs to outline its vision for its future, given the headwinds buffeting the UK retail sector.

    • 21 Jan 2020
  • Techcombank readies new $300m loan

    Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has mandated five banks for a $300m loan.

    • 21 Jan 2020
  • Trans Retail, Sritex mandate banks for loan return

    Trans Retail Indonesia, previously known as Carrefour Indonesia, and textile firm Sri Rejeki Isman (Sritex) have both mandated banks for new loans.

    • 21 Jan 2020
  • Norilsk Nickel to refi with tighter margins

    Norilsk Nickel, the Russian nickel and palladium producer, is refinancing an existing $2.5bn facility. According to bankers, the new deal will have tighter margins than the original deal, which boasted the slimmest margins of any Russian syndicated loan in 2017. Some bankers are calling this the busiest January they have seen for years in the Russian market.

    • 20 Jan 2020
  • Kawohl heads to HIG for distressed debt

    Bayside Capital, the branch of private equity firm HIG Capital that invests in special situations and distressed debt, has appointed Florian Kawohl as a managing director.

    • 20 Jan 2020
  • Cobham take-private debt starts syndication

    Loans backing Advent’s takeover of UK defence contractor Cobham, which received government approval over Christmas, have started general syndication, bringing welcome new money loans with a margin on the right side of 400bp.

    • 20 Jan 2020
  • Alvarez & Marsal expands into debt advisory

    Tim Metzgen is leading a new European debt advisory franchise at Alvarez & Marsal.

    • 20 Jan 2020
  • HSBC names head for illiquid credit syndicate unit

    HSBC has appointed Vinay Raj as head of illiquid credit syndicate, a new structure within the firm's global syndicate operations focused on distributing structured finance, infrastructure, real estate and distressed debt.

    • 20 Jan 2020
  • Valesco kicks off 2020 with €1.2bn Finance Tower acquisition

    The UK's Valesco Group has bought Brussels Finance Tower in a €1.2bn loan-backed purchase, in what the real estate investment and asset manager says is the second largest single asset acquisition in mainland Europe.

    • 20 Jan 2020
  • MET grows revolver and eyes Asian funding

    Switzerland’s MET Group has signed €950m of revolving credit facilities. The acquisition-hungry energy marketing company is looking to raise more syndicated financing outside its European home base before the summer.

    • 20 Jan 2020
  • BIS: climate may strip central banks of power

    A research paper published on Monday by the Bank for International Settlements sets out how grave the peril of climate change is. It asserts the necessity of central banks grasping this problem as central to their responsibilities — but also admits that they will be unable to “preserve financial stability in the age of climate change”.

    • 20 Jan 2020
  • Nomura hires Acaia to cover consumer and retail sectors

    Marco Acaia has joined Nomura as a managing director in the consumer and retail coverage team.

    • 20 Jan 2020
  • China's central bank keeps LPR unchanged

    Contrary to market expectations, the People’s Bank of China kept both the one year and five year loan prime rates (LPRs) unchanged on Monday.

    • 20 Jan 2020
  • Zhongce Rubber returns for $250m refi

    Zhongce Rubber Group has returned to the international loan market for a $250m refinancing.

    • 17 Jan 2020
  • ICBC Asia hires two loans bankers from Hang Seng

    Industrial and Commercial Bank of China (Asia) has hired two former Hang Seng loans banker to join its global capital finance department in Hong Kong.

    • 17 Jan 2020
  • The power of making a fuss

    As head of BlackRock, the largest asset manager, Larry Fink’s pivot to responsible investing in recent years has been influential.

    • 16 Jan 2020
  • Investors fight SEC curbs on ESG motions

    The latest battle in the campaign to weaken corporate governance standards in the US is being fought over rule changes that would make it harder for investors to propose motions at shareholder meetings. The ‘proxy advisers’ so central to US governance also face new restrictions.

    • 16 Jan 2020
  • Markets must face up to new deadlines for Libor transition

    Banks should stop issuing loans and bonds linked to Libor by October, according to the Bank of England’s Working Group on Sterling Risk-Free Reference Rates. But the scale of the challenge facing firms, particularly in the loan market, is causing concern.

    • 16 Jan 2020
  • BNPP and Deutsche prep secondary buyout loan for Armacell

    BNP Paribas and Deutsche Bank are marketing a €710m term loan 'B' to fund the secondary buyout of Armacell by PAI Partners, announced just before Christmas. This will be the insulation company’s fifth LBO, so it is well known to lenders, who ought to support the new deal despite a downgrade last year.

    • 16 Jan 2020
  • Loan repricing accelerates but can CLOs keep up?

    Some of the largest issuers in the leveraged finance universe are repricing their loans, cutting 50bp or more from their margins on the back of strong market conditions and proven performance since the loans were raised. That is putting pressure on CLO managers and equity holders, whose liabilities are tightening too, but more slowly, blocking repricing of the bonds and squeezing returns, write Owen Sanderson and Tom Brown.

    • 16 Jan 2020
  • Palmieri shakes up corp finance at SG

    Société Générale has redoubled its commitment to equity capital markets under a new structure designed to ensure it remains a force in investment banking when consolidation comes, writes David Rothnie.

    • 16 Jan 2020
  • More corporate borrowers adding loan language to green frameworks

    Corporate treasurers are increasingly ensuring their green borrowing frameworks include loans, though sustainability bankers note that the most popular loan structure is still not being included.

    • 16 Jan 2020
  • Private finance revival emerges in CEE

    Private capital in central and eastern Europe is gaining traction after a decade of diminished enthusiasm from international investors. Local firms continue to dominate the region's private equity and direct lending markets, but some international players are eyeing them again, while others remain cautious.

    • 16 Jan 2020
  • Pan Brothers ready to navigate Duniatex woes for new loan

    Indonesian apparel supplier Pan Brothers is in talks with banks for a new dollar loan, as it prepares to return to the market for the first time since 2018. However, syndication may be a challenge, as lenders are still reeling from the default of a subsidiary of textile firm Duniatex last year, writes Pan Yue.

    • 16 Jan 2020
  • Nouryon, Fluidra continue repricing trend in leveraged loans

    Dutch chemicals giant Nouryon is attempting an elephantine repricing of a €5.6bn loan. Nouryon is following Spanish Fluidra, a pool manufacturer, which announced a €300m repricing on Tuesday, and UK-based data company Refinitiv, which set a more favourable price for its €2.33bn loan last week.

    • 15 Jan 2020
  • UK PP agents to test US investors’ appetite for councils

    UK private placement advisers and agents are keen to speak to North American investors about their appetite for debt from UK local governments, seen by many as the next source of growth for PPs in Europe after the central government raised the rate at which it lends to them.

    • 15 Jan 2020
  • Höegh LNG docks in loan and bond markets

    Norway's Höegh LNG, which operates 10 floating liquefied natural gas import terminals, has signed an $80m revolving credit facility and mandated banks for a Norwegian krone bond.

    • 15 Jan 2020
  • Corporate primary faces test in secondary spread behaviour

    European corporate bond specialists are keeping an eagle-like watch on how well new issues trade in the immediate aftermarket. Any widening could kick off a trend towards higher new issue premiums.

    • 15 Jan 2020
  • India’s Birla Carbon, Tata Steel tap banks for loans

    Indian companies Birla Carbon and Tata Steel have mandated banks for loans and both borrowers have signed up large groups of lenders at the top level.

    • 15 Jan 2020
  • Everton hires JP Morgan, MUFG for stadium

    JP Morgan and MUFG have been appointed Everton FC’s financial advisers to arrange roughly £500m ($651m) of financing for the football club’s new stadium at Bramley-Moore Dock in Liverpool. One source close to the prospective deal told GlobalCapital “all options are on the table” regarding funding routes.

    • 14 Jan 2020
  • Röhm buyout loan returns to syndication

    Advent’s buyout of German chemicals company’s Evonik’s acrylic unit last year is still haunting the leveraged loan market. The banks are relaunching syndication of €977m and $612m of term loan Bs, hoping that investors will find the credit more attractive this time around than when it was first syndicated.

    • 14 Jan 2020
  • Wafer-thin margins for giant Froneri financing

    Froneri, a PAI Partners-backed ice cream company, is syndicating the financing for its acquisition of Nestlé’s US ice cream business, raising €5.7bn-equivalent of first and second lien debt across three currencies.

    • 14 Jan 2020
  • D Glasfaser signs €1.8bn but German lending outlook bleak

    Germany’s Deutsche Glasfaser, a fibre cable company, has almost tripled its bank credit facility up to €1.8bn. But the country’s development bank, KfW, warned that lethargic lending growth will continue in Europe’s biggest economy.

    • 14 Jan 2020
  • Sinopharm seeks second loan in six months

    Sinopharm Holding (China) Finance Leasing Co is seeking a $215m-equivalent loan.

    • 14 Jan 2020
  • Trade agreement adds to loan market woes

    The US and China’s signing of the phase one agreement on trade this week will finally put almost two years of battling and tit-for-tat tariff retaliation behind the countries. However, while the truce may pave the way for more market stability and a boost in investor sentiment, it spells trouble for the Chinese offshore loan market.

    • 14 Jan 2020
  • New World China breaks five-year loan hiatus

    New World China Land, the mainland China property business arm of Hong Kong’s New World Development Co, has returned to the offshore loan market after five years for a HK$5bn ($643m) borrowing.

    • 14 Jan 2020
  • CVC Credit offers acquisition, unitranche lending to Sabio

    CVC Credit Partners has provided an acquisition facility and a unitranche loan to Sabio, a UK firm providing customer engagement tools to bluechip companies.

    • 13 Jan 2020
  • Asia grows its influence in European private debt

    Gradually over the past decade, Asian investors have become more and more important to European corporate private debt markets, to the point where they are now often indispensable. Asian borrowers have been slower to appear, but are now arriving. However, while these arrivals have largely benefited these markets, they have introduced a few complications.

    • 13 Jan 2020
  • Loan mart misses out on Just Eat financing

    The sluggish European loan market has been dealt another blow this week, after Takeaway.com got overwhelming support for its all share merger with Just Eat to kill a £5.5bn ($7.16bn) loan funded rival offer from Prosus.

    • 13 Jan 2020
  • ENN Ecological makes debut with $200m loan

    Chinese liquefied natural gas supplier ENN Ecological Holdings Co has made its debut in the offshore loan market through Standard Chartered.

    • 13 Jan 2020
  • Banks tune in to Tencent’s Universal Music acquisition loan

    Chinese technology company Tencent Holdings is set to sign a €1bn club loan to support its acquisition of a stake in Universal Music Group.

    • 10 Jan 2020
  • Sustainability loans need rating agencies

    The sustainability-linked loan market is a glorious mess.

    • 10 Jan 2020
  • LMA to guide banks on how to avoid greenwashing in sustainable loans

    The loan market’s trade bodies are preparing to give new guidance about how to ensure sustainability-linked loans — in which borrowers can get a margin reduction if they hit sustainability targets — are genuinely “ambitious”. Bankers want to protect the market from rising concerns that some deals’ terms are too easy on the borrowers.

    • 09 Jan 2020
  • RBC looks to profit amid European blues

    RBC Capital Markets is beefing up financial sponsors, aiming to boost its European business during 2020, writes David Rothnie.

    • 09 Jan 2020
  • NatWest Markets joins leveraged loan swap market

    NatWest Markets has started to offer currency swaps on leveraged loans, with its first ‘perfect asset swap’ traded in December. It joins just two other banks regularly offering the product, which is crucial for connecting the sterling leveraged finance market to the deep demand created by euro-based CLO buyers.

    • 09 Jan 2020
  • Loan market sputters with activity near zero

    The 2020 syndicated loan market has made a far slower start to the year than in 2019, with not even $1bn of deals signed globally. Some bankers fear this is set to be another tepid year for European loans.

    • 09 Jan 2020
  • Barclays takes Oaktree distressed specialist

    Xavier Clement has joined Barclays’ European credit trading business, working under another former Bank of America Merrill Lynch banker.

    • 09 Jan 2020
  • Claas enters SSD market for ‘forward funding’

    German agricultural machinery firm Claas has entered the Schuldschein market for a minimum of €150m, with one of the deal's tranches not settling until mid-August.

    • 09 Jan 2020
  • Asia loans news in brief: January 9, 2020

    Axis sells full Syndicate Bank loan — Onfem boosts size to HK$6bn — Indorent closes $175m borrowing with 13 banks — VPBank wraps up $200m facility — Vingroup attracts 14 lenders

    • 09 Jan 2020
  • NTPC, Reliance to make loan returns

    India’s National Thermal Power Corp has mandated three lenders for a $300m-equivalent Samurai loan, after sending out a request for proposals last year.

    • 09 Jan 2020
  • BP gets credit rating nod for North Sea sale

    Oil major BP's A1 rating from Moody's, which is somewhat strained, has been strengthened by its $625m sale of its interest in a North Sea oil field to Premier Oil.

    • 08 Jan 2020
  • Faber-Castell pencils in sustainability-linked SSD

    Faber-Castell, the German manufacturer of office supplies, was the second borrower to enter the Schuldschein market in 2020, offering five and seven year notes with a sustainability-linked ratchet on Wednesday.

    • 08 Jan 2020
  • RBC poaches from HSBC for levfin

    RBC Capital Markets has continued the development of its leveraged finance business by hiring Craig Campbell from HSBC.

    • 08 Jan 2020