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LBO financing includes $5.75bn term loan to be priced early next week
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
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A loan that had been in syndication since April from vehicle parts producer Hyva Global has been signed, with a mix of Asian and Western banks and one institutional investor joining. The deal started out at $295m but wound up at a much slimmer $195m after failing to gather steam amid concerns over the industry and the company’s weak sales in slowing China.
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Louis Dreyfus Commodities Asia has sealed its $400m three year revolver, with a group of 38 banks. The loan, which was signed at the end of July, attracted mostly the company’s relationship banks, said a banker at one of the leads.
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Pricing has widened on the £300m sterling cov-lite loan backing Clayton Dubilier & Rice’s acquisition of Motor Fuel Group, the UK petrol station forecourt operator.
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German cable company Tele Columbus is allocating a €435m leveraged loan that backs its acquisition of rival Primacom, setting outs its ambitions for consolidation in the sector.
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UK generic pharmaceuticals company Amdipharm Mercury — also known as AMCo — is closing books on a €163.7m leveraged, having tightened pricing on the back of strong demand.
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A $100m three year offshore syndicated term loan for debutante Mitra Pinasthika Mustika Finance has been oversubscribed. The deal, launched into general syndication in May, is due to close imminently.