Citi
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India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals. -
The Province of Buenos Aires said on Monday that it had hired Bank of America and Citi to advise it on its debt restructuring.
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Bank of Montreal reopened the dollar market for Yankee banks this week, using ‘shadow books’ to quickly wrap up the sale of its floating-rate note.
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It was a mixed picture in the dollar public sector bond market on Thursday. A Norwegian agency was able to tighten the spread of its five year fixed rate trade on the back of a well subscribed order book. But a supranational was not able to achieve the same momentum for an intraday three year Sofr-linked floating rate note.
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New emerging market bond issues have been assessed on a case-by-case basis this week as the spread of the Covid-19 virus delivered sharp swings in global markets. Some borrowers wanted to forge ahead in case of a further sell-off, while others prefer to wait for a recovery.
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New emerging market bond issues are being assessed on a case by case basis as a split between those issuers keen to forge ahead and those preferring to delay emerges.
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China Hongqiao Group, China Water Affairs Group and Luxshare Precision has returned to the offshore loan market seeking a total of $800m.
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GTLK Europe, an air and sea vehicle lessor, has priced a seven year unsecured bond — its longest dated deal to date. It paid a premium to investors, but won praise for steering the transaction through a market that had recently been shuttered due to Covid-19 chaos.
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China’s Luxshare Precision is in the market seeking a $500m revolving credit facility, returning to bank lenders after an absence of three years.
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Italy's CNH Industrial has extended its revolving credit facility by a year, with all lenders agreeing to the capital goods company exercising the first of two one year options.
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GTLK Europe, an aircraft and ship lessor, was offering a healthy new issue premium for a benchmark seven year bond in dollars on Tuesday, with the Covid-19 outbreak still casting a shadow over global financial markets.
