BNP Paribas
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Chinese steel maker Shougang Group has turned its attention to the offshore loan market, sending an invitation for an up to $300m financing a month, after nabbing $400m from bond investors. -
Italian oil and gas engineering group Saipam printed its second issue of high yield bonds this year on October 27, as the market kept its momentum for top speculative grade rated borrowers.
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Asklepios Kliniken, a German chain of hospitals, raised more than double its initial target of €300m of funding in the Schuldschein market, showing the market’s appreciation for German borrowers from familiar sectors.
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Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, has allocated its $250m loan. The deal is scheduled to sign next week.
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Buoyed by Wind Tre’s landmark bond deal on Tuesday, European high yield participants say the market has shown there is demand for more jumbo deals — like Refresco’s €2.4bn buyout debt.
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Bankers working on the Frankfurt IPO of HelloFresh, the German meal kit delivery company backed by Rocket Internet, have revised the price range to €10.25 to €11.50, the upper half of the €9 to €11.50 initial range.
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A benchmark deal from 2i Rete Gas, rated Baa2/BBB, was not in the same league as the storming transactions the corporate bond market saw on Monday. Those involved felt they were a day late arriving at the party.
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Wind Tre, the Italian telecoms group, delivered Europe's largest ever high yield bond issue this week, a €7.3bn deal that has raised the bar for the market and led to expectations that more sponsors will follow suit amid heady investor demand.
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Just three months after Nestlé last extended its corporate bond curve, the Swiss food group was back in the market. Last Friday it pushed its range of maturities even further out.
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French food supplier Danone achieved what is believed to be the most tightly priced corporate hybrid capital issue ever on Monday.
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Two issuers from the Middle East this week printed dollar deals with ease this week, covering a range of maturities from five to 30 years and demonstrating demand across the whole curve.
