Banks

Property group Savills has employed two experienced loan syndication bankers to enhance its newly formed debt advisory business.

Investment grade corporate bond issuance is all but becalmed, but the high yield market is bustling with activity, as a wide variety of companies bring deals, including several strategic capital raisings and M&A financings.

UK bank debt has been having a hard time this week, with spreads gapping out by about 15bp on fears that the country could crash out of the European Union without a deal.

Underwriting revenues fell for Credit Suisse in the second quarter, it said on Wednesday, although fixed income trading and sales was a bright spot in its results.

Holders of Banca Monte dei Paschi di Siena’s €300m 10 year tier two have already been burned in the secondary market, with the price of the bonds having plummeted since their initial sale on July 16.

South Korean digital display manufacturer LG Display has bagged W813.6bn ($687.8m) from a convertible bond, according to a term sheet seen by GlobalCapital Asia.

China Aoyuan Group was back in the dollar market on Tuesday, adding another $250m to its 2023 notes.

China Construction Bank (CCB), the largest originator of residential mortgage backed securities in China, is returning to the market with a Rmb9.87bn ($1.43bn) four tranche deal on August 6. All three senior tranches are rated triple-A by S&P Global Ratings.

South Korea’s sustainable financing efforts were given a boost this week, after Lotte Property and Development Co sold a $300m bond.

Dexin China Holdings Co found limited interest for its debut dollar bond, despite paying a generous yield to get the deal done.

Frasers Logistics & Industrial Trust has raised S$258.1m ($188.4m) after sealing a new unit placement at the top of price guidance, according to a term sheet seen by GlobalCapital Asia.

China Lesso Group Holdings has mandated nine banks for a $900m loan.