L’Occitane said the acquisition will help bolster its growth globally and Elemis will leverage on the acquirer’s geographical presence to expand into new markets.
Singapore dollar-denominated notes issued by First REIT, and those sold by OUE Ltd., controlled by the Riady family, have dropped as a liquidity crunch prompts concern the group is using other entities to help shore up finances.
SC Credit Fund, which lends to small- and mid-sized companies at 16-18%, has raised about $75 million from investors, according to Siddharth Bhargava, CIO of India credit for Samena Capital, which jointly manages the fund with advisory firm Catalyst.
The firm is among a handful of debt funds looking to profit as regulators crack down on China’s $10 trillion shadow banking industry.
Oaktree doesn’t have an onshore presence in India, and currently invests a “very, very small amount” in the nation.
Goldilocks Investment has filed a lawsuit in the Singapore High Court against Noble and its executives, alleging the trader inflated profits to raise money.
The company said it was “very close” to reaching final terms on a restructuring deal with a so-called ad hoc group of largely hedge fund creditors.
Noble’s debt restructuring plan already faces opposition from a group of junior noteholders and Goldilocks Investment Co., its fifth largest shareholder.
“The whole world is looking at India now,” said Wong. “It could be a once-in-a-lifetime opportunity.”
HNA missed payments to several Chinese banks and its bond yields have in recent months traded at times at levels that are often considered distressed.