Citi
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Indonesian palm oil producer Sawit Sumbermas Sarana (SSMS) launched its dollar debut on Monday morning local time. -
UK telecoms firm Virgin Media increased its sterling loan offering on Friday, as recovering leveraged finance issuance in the currency seems to be leaving Brexit strains behind.
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Yixin Group raised its full target of HK$6.8bn ($867.2m) in a Hong Kong IPO that was overwhelmed by orders, allowing the issuer to price at the best end of terms.
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Thailand’s Kasikornbank has mandated banks for a planned dollar bond, to be issued through its Hong Kong branch.
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The public sector market for euro paper is providing superb execution for those borrowers that still have needs in the currency — but those are few and far between.
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A chequered history of debt restructurings and shareholder rebellions meant that a bond for B- rated Petropavlovsk was always going to be a tough sell. But a chunky 8.125% yield helped the gold mining company scrape together $500m to pay back more expensive bank loans, according to lead managers, despite the year end fast approaching.
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Leveraged loan issuance is set to outpace sales of new high yield bonds with a surge this year, pushed by a varied array of borrowers seeking not just tighter margins on old debt, such as US chemical group Angus this week, but also funding for acquisitions, as with Nordic travel operator Etraveli.
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Two US flotations of Chinese firms raised $686m this week, after one was priced in the middle of the range and traded down, while the other was set to make its debut on Thursday.
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Wing Lung Bank, part of China Merchants Bank Group, has mandated six firms to work on a Basel III tier two dollar transaction, and will go on a roadshow in Hong Kong and Singapore.
