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Despite the allure of lower loan prices, CLO managers should print deals cautiously
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Leveraged loans in stressed sectors like software carry refinancing risk
LBO financing includes $5.75bn term loan to be priced early next week
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The decision by the bookrunners of Protelindo’s $600m loan to extend the deadline for senior syndication has paid off — the leads have now received eight commitments at the senior level and launched the deal into general syndication this week.
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Taiwanese banks came under scrutiny from ratings analysts this week when Standard & Poor’s said the country’s lenders needed to move out of their domestic market to get better returns and improve the quality of their portfolios.
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Tata Steel plans to sign a Rs230bn ($4.2bn) club loan with a consortium of 10-15 lenders as soon as this week.
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Oil and metals producer Vedanta Resources has mandated five banks to lead its $3.5bn loan, and is planning to raise the money from a mix of Asian lenders and US institutional investors, according to a banker familiar with the loan.
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Payment processing firm WorldPay is looking to amend and extend its existing credit facilities, increasing its total net leverage to five times, in preparation for a potential disposal of its US business.
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South African diversified mining group Anglo American has signed a $5bn five year revolving credit facility from 28 banks.