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Former investment banker has been CFO of Verbund
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Apollo-owned French glass maker Verallia launched a €1.375bn term loan refinancing with a lender call on Thursday afternoon, its first deal since its failed €500m pay-if-you-can dividend recap offering in October. -
Bank Negara Indonesia is wrapping up a $750m borrowing with nine mandated lead arrangers and bookrunners, returning to the loan market after a two year break. As liquidity is still abundant, the borrower is raising its biggest syndicated deal, with bankers saying that government backed names from the country will remain popular. Shruti Chaturvedi reports.
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The syndicate that supplied a $405m loan on which Royal Industries defaulted, is waiting for one last bank’s go-ahead for the borrower’s waiver request. All lenders must sign off the changes before they can be implemented.
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The leveraged finance market should not view direct lending as competition but instead as a complementary funding source, said a direct lending official speaking at the Euromoney Nordic high yield conference in Stockholm this week.
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In yet another takeover funded entirely in the loan market, GoDaddy, the US internet domain registrar, is acquiring peer Host Europe Group (HEG) from private equity firm Cinven and raising dollar leveraged loans for the deal.
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Property firm Ezdan of Qatar has rallied 10 banks to participate in its $460m Islamic loan refinancing. All were Middle Eastern except HSBC and Industrial & Commercial Bank of China.
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