Loans and High Yield

Carlyle’s credit opportunities fund has provided a full €400m unitranche financing for Infront, after the Swiss sports marketing company opted to switch tracks from its original syndicated loan, launched in April.

Indian company Tata Motors' subsidiary TML Holdings has printed its largest dollar bond so far, raising $425m at a low yield.

Loans bankers focused on Vietnam have had to quickly adapt their syndication strategy for deals from the country amid a new surge in Covid-19 cases. Their approaches have differed: while some banks are charging ahead with transactions, others are opting to delay deals. Pan Yue reports.

French engineering company Vallourec has unveiled plans for a €300m rights issue to help return its balance sheet to a sustainable footing, following a recovery in the oil industry after the slump in demand caused by the Covid-19 pandemic.

A HK$2bn ($257.9m) loan to support a CVC Capital Partners-led consortium’s privatisation of Hong Kong fashion retail firm I.T has been launched into general syndication.

Philippine company SMC Global Power Holdings Corp returned to the dollar bond market for the first time this year on Wednesday, meeting strong-enough demand to boost the size of its deal and offer just a small premium.

E-House (China) Enterprise Holdings tapped its 7.6% 2023 bonds for an additional $100m on Wednesday, bringing the total deal size to $300m.

Fintech payments provider Paysafe has launched a refinancing of its remaining credit facilities, following its $9bn merger with a Bill Foley-controlled Spac, which closed in March. The merger and its accompanying PIPE allowed the firm to pay down debt and cut its leverage, and now it wants to lock in the benefits with a lower-cost refi.

Aluminium producer China Hongqiao Group has raised $500m from a bond that appealed to investors for its ‘surprisingly generous’ premium on offer.

Zhenro Properties Group visited the offshore bond market for the fourth time in 2021 this week, adding another $340m to its coffers.

Two senior leveraged finance lawyers have switched firms from White & Case to Allen & Overy in New York, following Jake Mincemoyer, who joined A&O as head of US levfin in February.

TDR Capital is injecting £100m in equity and a £250m payment-in-kind financing to recapitalise gym chain David Lloyd Leisure, as part of a broad-based refinancing including the firm’s first public high yield bond issue. Barclays, which has done most of TDR's recent deals, is running the £900m-equivalent bond, announced on Tuesday morning.