Banks

Dufry, the world’s largest travel retailer, issued €750m of senior unsecured notes on Wednesday to buy back its outstanding €700m of 4.5% notes, due in 2023, and pay back a small slice of its revolver.

Latin American bond market participants away from Costa Rica’s proposed $1.5bn cross-border issue said they thought the deal would find strong demand as the Central American nation announced a roadshow amid friendly market conditions on Tuesday.

Russian pulp and paper producer Ilim Group has launched syndication to refinance a $500m loan, according to bankers. The loan is one of the last expected to be signed in Russia's international syndicated market this year.

Société Générale reported a slump in overall profit as part of its third quarter results on Wednesday, but was keen to draw attention to a near-50bp improvement in its capital ratios, thanks to restructuring actions.

Dongfeng Nissan Auto Finance bagged Rmb6.5bn ($920m) from its third auto loan ABS trade of the year on Wednesday. Despite being the largest ABS trade the originator has done, the four tranche deal was well covered.

China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.

Kaisa Group Holdings and Greenland Holding Group Co joined a slew of Chinese real estate companies to rush to the offshore market this week, using up the remainder of their regulatory quotas.

Cigarette packaging printer Amvig Holdings has returned to the loan market for a HK$1.15bn ($147m) one year facility to refinance a 2017 borrowing.

Hong Kong-listed United Laboratories International Holdings has increased its borrowing to HK$1.8bn ($230m) after attracting six participants during syndication.

Bajaj Finance, an Indian non-bank financial company, raised Rp84.6bn ($1.2bn) this week, closing a qualified institutional placement that defied the challenges facing the sector.

SAIC-GMAC and Beijing Hyundai Auto Finance are both planning their returns to the auto loan ABS market next week.

Another Germany-focused real estate firm is dipping into the high yield bond market. Peach Property is launching €250m of unsecured senior notes, following a successful bond issue by Demire. While Germany is on the brink of recession, its property market keeps breaking new records.