Barclays
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Two Chinese property companies seized the market window on Thursday to raise a combined $802m from the bond market. -
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Non-European names hit the euro market this week with a trio of US companies and Japan’s Nippon Telegraph & Telephone Corp (NTT) raising debt. But syndicate bankers say rising US rates are still way off the sweet spot that would make the euro market irresistible for all Reverse Yankee issuers.
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Bureau Veritas, the French laboratory testing company, has amended its €600m bank line to include ESG elements, as the company is on course to breeze through its relaxed covenant restrictions at the next evaluation.
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Indian telecommunication company Bharti Airtel found strong support from global investors for its bond this week, allowing it to raise more money than expected and price the $1.25bn deal at a tight level.
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Private equity firm Blackstone has launched into syndication a $360m loan that will support its leveraged buyout of India’s Piramal Glass.
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Equinix, the US data centre real estate investment trust, got a slightly larger size than expected for its dual tranche euro green bond on Wednesday, but its curve steepened.
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Vantage Towers, the telecoms towers unit of Vodafone, has launched its long-awaited flotation on the Frankfurt Stock Exchange, having announced its intention to float on Wednesday.
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América Móvil, the Mexican telecommunications company controlled by Carlos Slim, had to cheapen the terms of its €2.2bn bond exchangeable into shares in Dutch telco KPN, but still achieved a remarkably cheap refinancing of a non-core stake.
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KommuneKredit mandated banks on Tuesday to follow its Nordic peer into the 10 year part of the euro curve, in what will only be the second public deal in the euro SSA primary market this week.
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China Aoyuan Group had to pay up to sell a $350m bond on Monday, as investors demanded compensation for the property company’s low rating and the deal’s long tenor.
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India's REC has raised $500m from a tightly priced bond that appealed to investors because of its relatively short tenor of 5.5 years amid volatility in the longer end of the yield curve.
