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Leveraged Loans

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  • Synlab, the French clinical services provider, achieved tight pricing on Tuesday for its leveraged loan. That bodes well for a September deal pipeline that has swelled to over €5bn. But bankers cautioned small deals may still have to fight for investor attention against large offerings like Stada’s €2bn loan.
  • Syndicated loan activity in Asia ex-Japan may have slumped this year, but the slowdown is not all bad. The numbers show a return to normalcy in the region following an unusually stellar year of business in 2016, according to speakers at a loan market conference last week.
  • HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.
  • Dongxing Securities (HK) Financial Holdings is making its debut in the international loan market with a $300m two tranche deal.
  • Chinese consumer electronics parts maker Luxshare Precision Industry has returned to the debt market for a $300m three year senior unsecured term loan, after an absence of nearly two years.
  • A $575m loan for Twin Star Mauritius, an entity under mining giant Vedanta Resources, entered general syndication on Monday with five banks at the helm.