Loans and High Yield

A consortium led by CVC Capital Partners is seeking a HK$2bn ($257.9m) loan to support the take private of Hong Kong fashion retailer I.T.

Asia Allied Infrastructure Holdings, a Hong Kong-listed property developer and investor, has returned to the loan market after one year. It has raised HK$1.3bn ($167.6m) from a group of five banks.

Holders of Gategroup’s Swiss franc high yield bonds, thought to be mostly retail investors, look set to be bound by a High Court of England and Wales judgement — handed down on Wednesday — in the restructuring of the in-flight food provider’s debt, despite bond terms giving exclusive jurisdiction to the courts of Zurich.

HSBC Asset Management has partnered with HSBC UK to launch a direct lending platform, targeting smaller and mid-cap corporates.

Chinese delivery company SF Express Co is seeking an up to HK$24bn ($3bn) loan for its acquisition of Kerry Logistics Network, signalling the start of a revival in fundraising for event-driven situations. Pan Yue reports.

A recent bout of volatility in the secondary trading of Chinese high yield bonds means supply from lower-rated credits is expected to remain muted over the next few weeks. While stability has returned to the debt market, investors remain cautious, writes Morgan Davis.

Charlie Jacobs, senior partner and chairman at law firm Linklaters, is set to become co-head of UK investment banking at JP Morgan.

Software company Iqvia had the euro high yield market almost to itself this week, as last Friday’s go-stale deadline slowed the frantic issuance which has characterised the year so far. As a double-B unsecured credit targeting pricing in the 2s, it was a punchy deal, but the result exceeded the issuer's expectations.

Grünenthal, the German pain relief medicine maker, has extended the maturities on €535m of term loan facilities, telling GlobalCapital it is open to various financing options, after a press report saying investors had shunned a new euro leveraged loan.

Martin Luehrs has been appointed to lead global capital markets at Morgan Stanley's Frankfurt-based broker dealer.

Pakistan’s Water and Power Development Authority (Wapda) is planning to sell its debut dollar bond in late March, in what would be a rare international corporate outing from the country.

VPBank Finance Co, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has further increased the size of its loan to $230m after additional banks joined the deal.