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Leveraged finance

asia-map-globe2
2023 preview: Buyouts

Even though debt is more readily available in Asia than in the US or Europe, financing costs are up, and buyout investors are reluctant to move for assets in an uncertain and overvalued market

  • Buyouts
  • 14 December 2022
david-gross-loh-bain-2022
Q&A: Bain Capital’s David Gross-Loh

David Gross-Loh, a managing director and a founding member of the Asia business at Bain Capital, on expanding into Osaka, targeting large-cap carve-outs in Japan, and the availability of deal financing

  • North Asia
  • 14 December 2022
dollar-money-jigsaw-puzzle
Deal financing: Homegrown solutions

Private equity firms are relying more heavily on Asia-based debt investors to support leveraged buyouts amid a loan logjam in the US, highlighting the region’s innovation and durability

  • Australasia
  • 07 September 2022
2022-australia-conf-issue-cover
AVCJ Australia & New Zealand Forum 2022 special issue

  • Australasia
  • 13 June 2022
size-large-hanger
Australia take-privates: Going large

A combination of abundant dry powder and friendly financing conditions are encouraging global GPs to pursue ever-larger listed companies in Australia. For now, macro headwinds are no deterrent

  • Australasia
  • 24 May 2022
esg-cogs-mechanism-leverage-sustainability
Leveraged finance: ESG sells

Private equity firms in Asia are increasingly willing to consider sustainability-linked credit facilities, and banks are generally happy to provide them. Speed is currently delaying standardisation

  • Financing
  • 23 March 2022
Tablet device in hospital
Baring Asia completes $386m recap of CitiusTech

Baring Private Equity Asia (BPEA) has completed a USD 385.9m dividend recap and refinancing of loans tied to its 2019 acquisition of India-based healthcare IT services business CitiusTech.

  • South Asia
  • 01 March 2022
novotech
TPG-owned clinical trials player raises new equity, debt

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.

  • Australasia
  • 20 January 2022
money-plant-flower-responsible-esg
Baring Asia creates sustainability-linked credit facility

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.

  • Financing
  • 15 October 2021
tourism-tourist-holiday
Asia travel & hospitality: Ready to board?

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

  • Greater China
  • 09 December 2020
dollar-cloud-man-wind
Asia buyout returns: Spoilt for choice?

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

  • Buyouts
  • 30 November 2020
dollar-crack-fracture-distress-break-money
Coronavirus & leverage: Room to maneuver?

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

  • Financing
  • 25 March 2020
avcj-australia-2020-private-debt
Macro factors not slowing private debt in Australia - AVCJ Forum

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.

  • Australasia
  • 09 March 2020
avcj-20191126cvr-72
AVCJ - November 26 2019

  • Region
  • 26 November 2019
australia-dollar-key
Australia leveraged finance: Best blend?

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

  • Australasia
  • 25 September 2019
dollar-sea-wave-money-boat
Asia leveraged finance: Institutional aspirations

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

  • Financing
  • 27 September 2018
hkvca-china-forum-2018
LPs warn of impending downturn in Asia

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.

  • Greater China
  • 06 June 2018
bpo-india-it-outsourcing
Blackstone completes dividend recap of India's Mphasis

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.

  • South Asia
  • 15 June 2017
tightrope-high-wire
Outbound M&A finance: The safer bets

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

  • Greater China
  • 05 October 2016
dollar-squeeze-leverage
Australia mezzanine: Compromise solution

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

  • Financing
  • 06 May 2015
KKR-owned MMI completes $580m refinancing

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.

  • Financing
  • 05 May 2015
financial-key-dollar-access
Leveraged finance: Coming to America?

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

  • Financing
  • 22 April 2015
john-connaughton-bain-capital
VIDEO: Bain Capital's John Connaughton

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...

  • North America
  • 26 January 2015
dollar-squeeze-leverage
Indonesia acquisition finance: Squeezed at the margins

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

  • Financing
  • 12 March 2014
1 2 3

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