Loans and High Yield

Goldman Sachs has launched the loan backing Bain Capital’s take-private of Ahlstrom-Munksjö into general syndication, looking to sell euro and dollar tranches over the next two weeks, and is likely to follow the loan launch with a secured bond in the coming days.

China’s Huadong Medicine Co has turned to the loan market for the first time.

A bout of volatility in US Treasury rates has slowed down primary bond flow in Asia and forced borrowers to pay up for their deals. While the turbulence has kept issuers at bay, it will offer a much-needed reset for the region’s bond market.

Dr Peng Telecom & Media Group Co has extended the maturity of its dollar bond until December 2022.

Indonesian motor vehicle financing company Indomobil Finance Indonesia is sounding out the market for a loan return. It has opted for a club deal this time around.

Singapore real estate company United Industrial Corp has raised a $300m loan comprising both green and sustainability-linked tranches, adding further momentum to the nascent asset class in Asia.

Glenveagh Properties, the Irish house builder, has signed a €250m bank line to refinance debt due in April, adding to its lending group in the process.

HIG Capital has hired a managing director from Houlihan Lokey for its European direct lending platform.

Mining giant Vedanta Resources was back in the debt market on Thursday with a $1.2bn trade, giving further comfort to investors that it has not abandoned its plans to clean up its corporate structure.

Two Chinese property companies seized the market window on Thursday to raise a combined $802m from the bond market.

After a poll of market participants at the end of 2020, GlobalCapital can now reveal the winners of its annual Syndicated Loan and Leveraged Finance Awards. GlobalCapital can also reveal the winners of the Private Debt Awards. Regrettably, we still cannot celebrate the awards with you in person, but we congratulate all the winners and nominees in this exceptionally challenging year.

Banks and investors’ claims to be acting on climate change appear to clash with the financing they still provide in the real economy, research showed this week — such as plans to increase fossil fuel production and consumption, even in the UK and France.