India’s Apollo Tyres is to rely heavily on the US markets for a U$2.5bn debt-funded acquisition of Cooper Tire & Rubber, a company nearly three times its size.
A jumbo loan backed by a standby letter of credit facility for Chinese pork producer Shuanghui International has underlined the ability of China’s banks to support overseas acquisitions.
International lenders are stepping up competition for sole mandates in a move that signals a rebound in confidence in Asia’s loan markets.
- Pricing fall gathers pace
- All-Asia buyout buoys confidence
- Indo Exim banks on loans
- Vedanta scraps TLB after US snub
- China: Alibaba signs for US$8bn
- CP All to test Asian loan market
- Leveraged finance set for lift-off