High Yield Bonds

  • Italian issuers say ‘si grazie’ to HY market

    Italian issuers say ‘si grazie’ to HY market

    Monday brought another strong start to the week for European high yield, with six new bonds announced and other deals, such as EQT’s Cerba healthcare financing, set to close this week. Italian issuers led the way, with bonds for International Design Group, Lutech and Cedacri in the market.

  • EQT launches bonds for Cerba buy-out

    EQT launches bonds for Cerba buy-out

    Swedish private equity firm EQT launched senior and subordinated bonds on Monday to finance its acquisition of Cerba Healthcare, the diagnostics company headquartered in France.

  • Ion spreads financing wings, brings in JP Morgan

    Ion spreads financing wings, brings in JP Morgan

    JP Morgan is running the acquisition financing for Ion Investment Group’s purchase of Italian banking software group Cedacri, a major shift for the finance, technology and data group, which has relied on Credit Suisse and UBS to fund its spree of its debt-fuelled acquisitions. The group also turned to high yield bonds for the first time recently, a major departure for a company which once prized the privacy of the loan market.

  • Haid debuts with $400m loan

    Haid debuts with $400m loan

    Guandong Haid Group Co, a Chinese agricultural and animal husbandry company, is in the loan market with its debut offshore borrowing of up to $400m.

  • EQT mixes CO2 and diversity in first SLB from private equity

    EQT mixes CO2 and diversity in first SLB from private equity

    EQT achieved a strong response from investors on Friday when it launched the first sustainability-linked bond from a private equity firm, and only the second from a financial company. The €500m deal is tied to greenhouse gas emission cuts and gender diversity metrics.

  • Jacquet Metal Service leads SSD revival

    Jacquet Metal Service leads SSD revival

    French steel parts and distribution company Jacquet Metal Service has launched a further Schuldschein, according to sources. The market is gearing up for somewhat of a renaissance after a moribund 2020 and GlobalCapital understands that 10-15 more transactions are set to be launched in May.

  • Swan song for hung bridges as Golden Goose readies bonds

    Swan song for hung bridges as Golden Goose readies bonds

    Golden Goose, the Italian shoemaker bought by Permira just before the coronavirus pandemic struck Europe, is looking for €470m of senior secured bonds in what may be the last repayment of a bridge facility signed before Covid. Hung bridges for leveraged buyouts were a serious concern for banks at the height of the pandemic but due to governments and central banks supporting the financial markets, lenders sold down the positions successfully — mostly much earlier than Golden Goose, writes Silas Brown.

  • Tullow tightens docs but gets rescue bond away

    Tullow tightens docs but gets rescue bond away

    Tullow Oil has tightened the already restrictive terms on a new $1.8bn senior secured bond, applying further limits to dividend capacity and restrictions on paying down its unsecured 2025 bonds early. But the company had few other options to stave off a restructuring, other than taking what the market will bear, and the bond looks set to price at the tight end of the 10.25%-10.5% guidance.

  • Allied bid backers to split $100m fees as G4S debt package lands

    Allied bid backers to split $100m fees as G4S debt package lands

    Banks backing the successful Allied Universal bid for UK security company G4S are set to split around $100m in financing fees for backing the deal, with Credit Suisse and Morgan Stanley in line for the lion’s share of the profits, as the $6.3bn eight tranche syndication is priced and the firm is delisted.

High yield bond news archive