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Leveraged Loans

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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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  • A Hong Kong-based banker in the Asia Pacific leveraged finance team of HSBC has resigned, and is understood to be heading to Bank of America Merrill Lynch, according to sources.
  • Europe’s corporate bond market lit up with new issues this week, signalling the beginning of what is expected to be a hectic period until June. General Electric, BMW and Repsol with the first green bond from a major oil company are among the host of deals and mandates filling screens.
  • The head of credit for Axis Bank in Hong Kong has been promoted, with the scope of his role widening following the bump up.
  • Chinese mobile phone maker Xiaomi is sounding out lenders to refinance a $1bn dual tranche borrowing raised three years ago.
  • A $651m facility for Vedanta Group will be split into two tranches, one for overseas lenders and the other helmed by Indian banks, according to a banker close to the deal.
  • Bank of China Macau has given China Huishan Dairy Holdings until next Tuesday, May 16, to repay a $50m loan raised in 2014 that matured in April.