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First refinancing since Fitch upgrade in December has been well received
Hyperscaler and data centre debt mountain will keep growing, even if technical stampede eases
As funds swell, pressure to deploy rises and managers can stray from their expertise
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As expected, the loans for the leveraged buyout of Polish auction website Allegro are tightly priced, with tenors of six and seven years for less than 400bp. -
The UAE’s Ajman Bank has refinanced its Sharia-compliant loan, growing the deal to $230m in syndication.
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Norwegian debt manager Lindorff has agreed a €3.4bn bridge-to-bond and a €850m four and a half year super senior credit facility to support its merger with Swedish competitor Intrum Justitia. The combination will create an “undisputed European leader” in debt management, said S&P.
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Gulf schools operator Gems Education is following its $250m loan financing in April with another deal for $500m which will be syndicated soon, according to bankers.
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Zain Group of Kuwait is refinancing a $500m corporate loan, syndication of which is due to close soon, according to a banker close to the deal.
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Chinese sportswear manufacturer Xtep International Holdings is looking to tie up a $100m amortising loan, having enlisted a Hong Kong lender to arrange it. Xtep has sold syndicated loans in the past but is reaching out to a smaller group of banks this time.
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