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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
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Chinese notebook parts maker Luxshare Precision Industry has closed its three year revolver at $250m, partially exercising a $100m greenshoe.
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Cambodia’s Union Commercial Bank has approached the loan market for a $100m three year fundraising. The borrower is majority owned by Taiwan’s E.Sun Commercial Bank.
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China Greenland Rundong Auto Group has become the latest auto dealer from the Mainland to increase the size of its borrowing thanks to strong demand.
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SinoPac Securities has signed a $120m three year bullet loan, netting commitments from a group of roughly 15 lenders.
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Azelis, the Antwerp-headquartered speciality chemicals distributor, had commitments due at 5pm Thursday for its seven year euro term loan, having flexed the pricing on all first lien debt.
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Swissport, the air cargo handling company, has removed the US dollar tranche from its €1bn equivalent (Sfr1.145bn) debt package for its acquisition by HNA, a Chinese private equity firm.