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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
William Liu joins from K&L Gates
Buyers line up €11bn of debt and equity financing
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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After a muted Monday, when British American Tobacco’s sterling and Hemso’s euro trades were the only deals on screens, the European corporate bond market has surged as buy-side demand supported negative yields and hefty order books.
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Vietnam’s Vingroup Joint Stock Company has allocated its $300m borrowing after selling the full greenshoe of $60m.
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R&R Ice Cream is scheduled to launch €1bn of loans this month as its joint venture with Nestlé’s ice cream business, Froneri, nears completion.
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German health care group Fresenius is set to unroll more than €5bn of debt to fund its acquisition of Quirónsalud, a Spanish peer, which it will integrate into its Helios hospital network.
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Greek gaming company Intralot is looking to refinance €200m of loans following the completion of the merger of its Italian unit with Italian gaming firm Gamenet.
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Two Hong Kong-based loans bankers from Bank of America Merrill Lynch’s Asia Pacific debt solutions team have left the firm.