Banks
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Aedifica, the Belgian real estate investment trust focused on healthcare properties, is financing its forward pipeline of investment opportunities with a €300m sale of new shares. -
Piraeus Bank has become the first Greek issuer of additional tier one (AT1) capital, finding enough demand this week to launch a CCC rated deal with a coupon below 9%.
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Raiffeisen Bank International launched its first green tier two on Wednesday, landing at a spread that was 10bp inside fair value for an unlabelled deal.
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Sipartech, the French fibre optic infrastructure company, has signed a €180m syndicated loan that will pave the way for the company to invest “massively” over the next three years.
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Kaisa Group Holdings battled a volatile market for Chinese high yield issuers on Tuesday when it kicked off a $280m tap, as news around banks’ exposure to peer property credits rattled investors.
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Vietnamese education company Nguyen Hoang Group is making its offshore loan debut with a $62m deal.
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Chinese company Sany Heavy Industry Co has returned to the offshore loan market after a nine-year absence for $600m.
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China Everbright Bank priced its $600m bond through fair value this week, buoyed by strong demand from the syndicate team helming the deal.
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BMW Automotive Finance (China) sold a Rmb8bn ($1.25bn) auto loan ABS on Tuesday, its second outing this year. It slashed the revolving period to one month versus 14 in the last deal.
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Hong Kong developer Pacific Century Premium Developments (PCPD) printed a $700m deal on Tuesday as part of its efforts to tender a 2022 bond.
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China Logistics Property Holdings Co built up strong demand for its HK$778.8m ($100.4m) placement on Tuesday evening, but its stock came under selling pressure the following day.
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Pharmaron Beijing Co brought the first renminbi-linked but dollar settled convertible bond to the market in nearly five years this week, raising $600m from the dual tranche deal. Bankers called it a ‘smashing success’ and said the issue pipeline from the pharmaceutical sector is strengthening. Rashmi Kumar reports.
