Banks

Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.

Credit Suisse's investment bank is well placed for where the market is heading after the coronavirus pandemic, it said on Tuesday at an investor day. Its new global trading solutions (GTS) business unit may be key to future revenue streams.

Transdev, the French public transport operator, has signed a Skr1.2bn (€117m) credit facility to buy low carbon buses in Gothenburg, Sweden’s second largest city. One of the commercial lenders arranging the deal has used European Investment Bank money rather than its own, to provide better financing conditions.

During last January’s conference in Vienna, we felt that sentiment around CEE was mostly optimistic, but — to be frank — slightly unenthusiastic. It seemed as though everybody was expecting another solid, but ordinary year ahead. The news about the novel coronavirus in China was very distant.

InterContinental Hotels Group has negotiated a waiver and relaxation on its loan covenants for the second time in 2020, as its leverage threatens to plunge its rating into junk territory.

Pirelli, the Italian tyres company, has issued its first convertible bond since its re-IPO on the Milan Stock Exchange in 2017, raising €500m.

U Life Services Group, a Chinese property manager, is looking to Hong Kong’s bourse for fresh capital to fund expansion.

Adani International Container Terminal Private (AICTPL), part of India's Adani Group, sold its inaugural dollar bond on Monday. It raised $300m after receiving orders worth $2.85bn.

Aabar Investments has pocketed MR932.4m ($229.4m) after selling down its remaining position in Malaysia’s RHB Bank, according to a source close to the deal.

The negative new issue premiums, falling spreads and high demand for fresh debt seen in the European high grade corporate bond market this month should mean strong borrowing conditions for the new year. But a reduction in capex spending could mean that dealflow might end up disappointing in the early months of the year.

Gaurav Arora has joined Credit Suisse to work in its emerging markets sales team.

The European Banking Authority has warned the market to expect a sharp deterioration in asset quality next year, after publishing a wealth of new information on provisioning practices.