HCP pulls $380m loan as US investors push back

Chinese packaging company pulls $380 million leveraged loan after US institutional investors demand higher yield.

HCP makes packaging for a variety of beauty products

Denise Wee

August 11, 2014

Chinese packaging company HCP, held by private equity firm Texas Pacific Group (TPG), has pulled its $380 million covenant-lite loan that targeted US institutional investors, signalling a pushback on pricing of high-yield loans sold by Asian companies.

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