Americas

Lead banks have scheduled a December date for the syndication of a €3bn equivalent multicurrency loan package that is supporting PAI and British Columbia Investment Management Corporation’s leveraged buyout of bottling company Refresco.

TerraForm Power, the former SunEdison renewable energy yield company, priced two tranches of high yield bonds on Tuesday after increasing the overall size of the offering from $1bn to $1.2bn.

Corporacion Andina de Fomento tapped its September 2027 Kangaroo line on Tuesday, the first increase since it opened the line in March.

Mexican cement group Cemex made a spectacular return to European bond markets on Tuesday, increasing the size of a seven year non-call three deal that bankers saw as coming inside fair value.

Saudi Aramco’s jumbo IPO is taxiing towards take off, though the timing and any co-listing locations along with Riyadh have yet to be revealed. London and New York’s exchanges are eager to host a co-listing, with Toronto, Hong Kong and Singapore also in the frame for what promises to be the biggest ever IPO, valuing the company at $2tr.

As fund managers fill their pockets with corporate leveraged finance debt, borrowers like BMC Software are taking advantage of strong conditions to slash funding costs across their financial structure.

The three corporate bond issuers who sold new issues in euros on Tuesday offered something short, something intermediate and something long. The shorter tranches benefitted from the most interest.

Brazilian low cost airline Gol will look to raise between $350m and $550m of new seven year notes as part of a liability management exercise, less than 18 months after a distressed debt exchange.

Ford Motor Credit Co, the financial services arm of US motor company Ford announced a dual tranche corporate bond deal on Monday comprising two floating rate notes.

Colombia’s finance ministry has turned to a former employee to run the public credit office after the previous chief funding official resigned last week.

Macquarie and JP Morgan had the market to themselves this week, as dollar supply slowed to a trickle ahead of the Thanksgiving holiday in the US. But Yankee banks could help to increase deal flow in the run up to Christmas.

Property developer Country Garden, which holds the record for selling the Panda market’s largest bond, has obtained approval for a Rmb9.5bn ($1.44bn) issuance programme, the company said in a filing on Hong Kong Stock Exchange on Thursday.