Singapore packaging company Goodpack, which is being taken over by US private equity firm KKR for $1.4 billion, wrapped up its $720 million leveraged buyout financing on Tuesday, attracting about $100 million of interest from Asian institutional investors, according to a source familiar with the matter.
The presence of some regional demand for the high-yield loan augers well for the development of a non-bank lending market in Asia and industry players expect more borrowers to tap the US high-yield loan market in coming months.
The deal was always going to be driven by the US institutional investor base, but Goodpack had held investor meetings in Singapore in July to test demand in the...
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