Leveraged/non-investment Grade

Thaco closes debut borrowing with 10 banks

Vietnamese car manufacturer Truong Hai Auto Corp has closed its debut offshore borrowing, increasing the size of the loan to $210m.

Houlihan’s European expansion rolls on

Houlihan Lokey’s European corporate finance land grab has made its fifth acquisition since 2014, writes David Rothnie, at a time when the fluctuations of the credit cycle may be about to lead to more restructurings.

People moves in brief

Giancarlo heads to private sector — Barclays structurer goes to buy side — Danske reorganises DCM

Intu the mire as distressed buyers circle UK property co

GlobalCapital understands distressed debt buyers are seeking advice on how to target debt issued by intu Properties, especially its 2022 convertible bonds, now trading below 70, as the shopping centre company reels from the wave of restructurings and rent reductions by some of UK’s largest retailers.

BRI Finance debuts with $100m three year loan

BRI Multifinance Indonesia (BRI Finance) is tapping the offshore loan market for an up to $100m borrowing.

Commercial banks lead highly levered LGC financing

Commercial banks are in the driving seat for the highly levered financing of Cinven and Astorg’s purchase of testing business LGC Group. Regulatory issues are said to have kept some US banks away from the deal, but others question whether a large revolver commitment had more of an impact.

Loans' Libor problems rumble on

The syndicated loan market’s shift from Libor to risk-free rates has come under further scrutiny. Law firm Dentons released a report on Wednesday that highlights significant parts of the changeover that remain unresolved.

Obituary: David Pepper, 1968-2019 — Loan market mourns the ‘King of Turkey’

Polite, sincere, with a swift wit, David Pepper had a huge presence in Europe's syndicated loan market.

Banks drink up Emperador’s €405m loan

Philippine brandy making company Emperador has closed a €405m borrowing with 13 lenders in the syndicate.

People moves in brief