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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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United Biscuits has returned to the leveraged loan market to seek a repricing of £960m-equivalent of debt it raised in December to back its buyout by Yildiz Holding, the Turkish foods group.
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Royal Industries Indonesia has wound up its latest borrowing at $380m. Although this figure is less than the target size of $500m, the response to the loan was fair as the leads managed to bring in new liquidity for the company, paving the way for more financings, said bankers.
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Bank Rakyat Indonesia (BRI), which picked a consortium of 11 banks to supply its $550m financing, held a meeting for the lenders on June 8, said bankers. The Indonesian firm was initially looking for $400m but raised the size of the borrowing following a healthy response.
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Real estate developer Vietnam Investment Group Joint Stock Co (VIG) has fully exercised a greenshoe on its borrowing, sealing the loan at $200m with 13 banks.
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Minimax Viking, the German fire protection systems provider, has repriced dollar and euro tranches of €701m-equivalent of leveraged loans within guidance, but at different ends.
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United Biscuits has returned to the leveraged loan market, seeking a repricing of around £960m-equivalent of debt, raised in December to back its buyout by Yildiz Holding, the Turkish foods group.