Loans and High Yield

UK gambling firm Entain, the former GVC Holdings, rejected a buyout bid from MGM on Monday morning, which could have added a second multibillion gaming deal alongside the Caesar’s bid for William Hill. MGM had offered to pay in stock, but regardless, the year is looking bright for debt-funded UK buyouts, with a healthy pipeline building.

The Asian dollar bond market reopened with a bang on Monday as six borrowers launched new transactions, with DCM bankers preparing for a busy January.

Chinese corn oil manufacturer Shandong Sanxing Group Co has extended the deadline for an exchange offer on its $200m 7.99% 2021 bonds for a third time.

Fondo Gomma Plastica, Fopen, Pegaso and Previmoda are looking for a direct lender to manage just under €200m of capital, in a push for higher yielding assets.

French supermarket group Casino has announced the results of its tender offer, with investors willing to give up roughly €822m out of a possible €1.2bn of bonds.

The problem of ocean plastic is so daunting that it is tempting to despair, believing nothing can be done — or at least, that only the might of governments and international organisations stands a chance. A few entrepreneurs, however, are convinced this fight can become investable for mainstream capital markets.

Fresh fears are rising about the future of companies already pummelled by the economic ramifications of the coronavirus pandemic. New research suggests that the worst affected industries will be the hardest hit again as Europe heads into another round of major lockdowns.

Outokumpu, the Finnish stainless steel maker, has extended the maturity on the bulk of its bank loans, becoming the latest company to push its debt maturities out to a time when the world economy is expected to be well into a recovery.

In November, GlobalCapital polled loan market participants for its 18th Syndicated Loan and Leveraged Finance Awards. The nominations are listed below, in alphabetical order. We will reveal the winners at a virtual event in February. Further details on the event will be laid out on our website in January. We congratulate the nominees.

In early July, a cub reporter who had only left university the year before filed a story that would cause UK fast fashion company Boohoo’s share price to tumble.

Trig, the London-listed renewable infrastructure investment firm, has signed a £500m loan with its margin linked to Sonia rather than Libor, as loans bankers try to encourage borrowers look at their loan documents soon to avoid bottlenecks next year.

Indonesian high yield companies that had limited access to the international bond market this year due to the Covid-19 pandemic are now preparing for a challenging 2021 — unless sentiment gets a dramatic boost from the vaccine news. Morgan Davis reports.