Deals
Refresco Pulls Loan Deal Amid Rising Angst in Junk Credit Market
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Drinks maker Refresco shelved a €2.1 billion ($2.3 billion) leveraged loan repricing on Thursday, as sentiment sours among junk debt investors.
Refresco is the fourth company to pull a deal from the European market in the space of a week. All four have had opportunistic slants: UK production company All3Media and French insurance broker April Group last week withdrew proposals to repricing their existing facilities, while crop-protection company Rovensa pulled a planned €1.1 billion loan refinancing and extension.