Bank of America
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A loan that had been in syndication since April from Hyva Global has been turned into a smaller club deal, but some lenders said weak sales in China prompted them to stay away. -
Mexican hotel operator Grupo Posadas saw its $350m seven year deal trade up on Friday as bankers said that there was still demand for high yield despite the sub-investment grade segment of the Latin American market suffering its worst year in terms of new issuance since 2009.
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Bank of America Merrill Lynch has named new co-heads for its investment banking division in Asia, splitting the role between bankers with southeast Asia and China expertise. The news follows the appointment of two new global IB co-heads earlier in the year.
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Korea Gas Corp (KoGas) mandated six banks as the company gears up for a benchmark sized return to the dollar bond market next month.
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Financial institutions will be forced to pay sky high premiums to print tier two before the summer, as they balance regulatory demands for more loss absorbing capital against an unfriendly primary market, writes Tom Porter.
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Two equity block trades were launched in Europe on Thursday night, despite the ever-dwindling hopes of resolution to Greece’s debt crisis. Remarkably for such a day of political stress, the Euro Stoxx 50 spent part of the day in the green and ended exactly flat.
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Heinz’s jumbo bond backing its acquisition of US foods group Kraft topped off the dollar market’s best ever quarter and half-year for high-grade corporate issuance.
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Kennedy Wilson Europe Real Estate issued £300m of seven year bonds on Wednesday, dividing market opinion. Some bankers said the deal looked cheap and poorly supported.
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The competition in the investment grade loan market this week was merciless, as Santander was announced as the third and final lender in IAG’s €1.4bn loan to buy Aer Lingus.
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Turkey has opened the gates for its second stream of annual bank refinancings, just as the year’s first wave is ending, with Akbank back in the market for a loan.
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British Airways has completed refinancing $1.25bn of credit facilities and has increased the loans to $1.75bn.
