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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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Scout24, the German online directories and listings company, has reduced the size of its €645m term loan ‘B’ by €50m, after selling its Swiss business to e-commerce firm Ringier Digital.
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Astra Sedaya Finance has picked a group of 11 banks to arrange its $500m three year financing, tentatively scheduled to launch into syndication in mid-February.
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Formosa Plastics Group has launched a $700m five year loan into syndication, and has quickly hit the radars of Taiwanese bankers by offering a margin of 200bp over dollar Libor.
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Singapore-based Geo Energy Resources and Savu Investments have launched their respective Singapore dollar loans into syndication. While the former is making its debut in the loan market, the latter is returning after a six year absence.
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Bankers working on the Ministry of Finance of the Islamic Republic of Pakistan’s loan have wrapped up syndication at a final deal size of $172.5m.
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ONGC Videsh, the international arm of Oil and Natural Gas Corp, is seeking a new $725m one year bridge loan, with a group of seven to nine banks expected to win the mandate.