Barclays

Thai Airways is meeting investors for its first dollar offering this week and has opted for a senior perpetual bond. Should it be successful, the borrower will be only the second Thai corporate to tap the international market this year.

A €300m bond from US retailer Jarden Corp was priced wider than expected this week because of an oversupply of high yield transactions in the past 10 days, a lead banker told GlobalCapital.

Jarden Corp is marketing €300m of seven year senior notes to be used for general corporate purposes, and expects to price the deal substantially tighter than its existing notes.

Korea National Oil Corp (KNOC) has announced guidance on a tap of its 2019 bonds as well as a new 10 year. The deal follows a roadshow that wrapped up in Europe in mid June.

Peripheral European borrowers are set to benefit from a lack of competing supply and red hot demand this month. Conditions are strong enough this week for Portugal to launch a dollar bond in the tricky 10 year maturity, despite troubles affecting one the country’s leading banks — plus a short benchmark execution window.

German industrial packaging group Mauser has priced the tranches of its $1.6bn acquisition loan at the tight end of guidance and inside it, while keeping covenant-lite terms on all tranches but one.

Ithaca Energy, the North Sea oil and gas operator, priced a $300m bond on Monday, to be used to partially repay a $610m reserve-based lending (RBL) facility.

ArcelorMittal is an archetypal crossover credit, having been downgraded from investment grade to Ba1/BB+/BB+. The steelmaker’s ratings from Moody’s and Standard & Poor’s are on negative outlook.

Wm Morrison Supermarkets, the UK’s fourth largest food retailer, issued a £300m 15 year bond last Friday (June 27), which reaffirmed the bond market’s continued support of the company despite its widely known operating difficulties.

UK retailer Debenhams priced £225m of senior notes due 2021 on Wednesday June 25. The offering was increased from the £200m originally announced due to strong investor demand.

Hellenic Petroleum, the unrated Greek oil refiner, priced a €325m five year bond on Friday to yield 5.375%.

Unatrac, a Dubai-based Caterpillar equipment dealer, has taken advantage of the trend for companies to amend existing loans in their favour to add two years to the tenor and slash 125bp from the margin of its debut $700m loan, signed last June.