Novotech, an Asia-based clinical trials specialist controlled by TPG Capital, has secured USD 760m in new equity and debt financing at a post-deal valuation of approximately USD 3bn.
Baring Private Equity Asia (BPEA) has secured a $3.2 billion loan to support its private equity platform with interest rate reductions linked to performance against a series of sustainability metrics.
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
Fund managers believe the ability to finance and refinance deals on attractive terms, as well as a wider array of paths to liquidity, will underpin performance in Asia
Economic disruption caused by the coronavirus outbreak is likely to leave many private equity portfolio companies in breach of their leverage covenants. Borrowers and lenders are looking for a fix
Leveraged lenders focusing on Australia and New Zealand continue to see strong demand from financial sponsors, with the impact of global macroeconomic volatility likely to be delayed and perhaps muted.
Two years ago, unitranche structures were a novelty in Australia’s leveraged finance market. Now they are an integral part of it. For borrowers and lenders, there might be no turning back
PE firms can obtain financing for leveraged buyouts in Asia on increasingly favorable terms, but this doesn’t necessarily point to institutionalization – or at least, not yet. For now, banks still lead the way
Institutional investors are preparing for a downturn in Asia – and emphasizing the importance of disciplined deployment – as they see worrying “pro-cycle market behavior” in the private markets space globally.
Indian IT services provider Mphasis has issued $500 million in bonds, the proceeds of which will be used to recapitalize its debt and make a dividend payment to majority owners The Blackstone Group and GIC Private.
China’s outbound M&A market has taken off in recent years, but many are skeptical that purchasing companies will be able to handle the financial and operational burdens they have taken on
The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what is, for now, an acceptable price
MMI, a Singapore-based hard disk drive components manufacturer owned by KKR, has secured a $520 million term loan and a $60 million five-year secured revolving credit facility to refinance its outstanding debt.
It has become increasingly costly for private equity firms to access borrower-friendly US financing for leveraged buyouts in Asia. The US markets are fickle and volatile, but Asian banks are also stepping up
Global buyout deal flow reached $332 billion in 2014, the highest annual total in seven years according to Preqin, in part thanks to cheap credit in the US. However, John Connaughton, managing director at Bain Capital, argues that the market has yet to...
With bumper LBOs few and far between, banks see limited opportunities for leveraged finance in Indonesia. And in the prevailing economic climate, they aren’t generous at acquisition or operating company level
The low-hanging fruit created by the post-global financial crisis troubles of highly-leveraged Australian companies has mostly been picked. Distress investors are looking in smaller and less obvious places
Indian banks will be allowed to support leveraged buyouts of distressed companies by “specialized entities” according to plans released by the Reserve Bank of India. Under a liberalized regulatory regime for asset sales, sector-specific private equity...
HT Global IT Solutions Holdings, an affiliate of Baring Asia, has pledged its entire stake in Indian business processing outsourcing (BPO) firm Hexaware Technologies with Standard Chartered Bank to help pay for its acquisition.
Once regarded warily by banks due to the lack of security in providing offshore financing against onshore assets, Asia buyouts that rely on offshore holdco structures are increasingly sought after.
Bain Capital credit affiliate Sankaty Advisors has agreed to pay Lloyds Banking Group A$371 million ($335 million) for loans held by BOS International Australia. It is the latest in a series of divestments from the BOS loan portfolio after KKR and Allegro...
MediaWorks Holdings, a new company owned by a consortium of lenders, including Oaktree Capital and TPG Capital, has signed a conditional sale and purchase agreement for the New Zealand broadcaster and its subsidiaries.