Loans and High Yield

G.Network Communications, the London-centric broadband provider, has signed loans totalling £229m, with the company planning a £1bn investment programme into the UK capital.

India's Future Retail failed to make an interest payment on its dollar bonds last Friday, making it the second time it has missed a coupon on its debut notes as it struggles to overcome Covid-related woes.

Taiwanese banks are increasingly asking their loans teams to avoid participating in deals led by global investment banks, in line with guidance given by the finance ministry last year and over fears of being burnt again by possible defaults.

Hong-Kong-headquartered bank SC Lowy has hired Jonathan Graber for its trading team in London.

Infravia Capital Partners, the French private equity firm, has amended an equity bridge facility to make it align with the UN’s Sustainable Development Goals. Margins are tied to the ESG performance of its fund’s investments, following the lead of EQT and Eurazeo.

Altitude Infrastructure, the French telecoms company, has signed a €266m credit facility, which it will use for two fibre optic networks.

Chinese property developer Sunac China Holdings has managed to reprice its secondary curve by raising $1.1bn from tightly priced bonds.

Standard Chartered and United Overseas Bank have provided a HK$5.29bn ($682m) green loan to support a Gaw Capital Partners-led consortium’s acquisition of Cityplaza One.

Barclays took out the bridge financing for TowerBrook and Warburg Pincus’s takeover of UK roadside assistance group The AA on Wednesday, selling a £280m five year bond at 6.5%.

Italian facility management company Rekeep signalled market appetite for the spicier end of high yield this week, issuing a €350m five year non-call two at 7.25%. This will trim the company’s sky high funding costs, paying for the redemption of its 9% 2022s.

Two issuers spotted a window on Thursday for opportunistic high yield issues, as the Crossover index had tightened 9bp on Wednesday and there was a firm tone in other risk assets. Italian construction group Webuild launched a €150m tap of its 2025 note, launched in December, while Balkan telco United Group reopened its 2027s for €100m.

Santander reckons it can harness the power of hydrogen to boost its standing in corporate and investment banking, building on its ESG credentials in similar way to how rivals built supremacy during the internet boom, writes David Rothnie.