Citi

Cosmetics packager HCP Global has postponed its US targeted syndication for $380m, with bankers attributing the decision to a summer lull and a tough US market. A new timeline for the loan was being worked out, said bankers close to the deal.

Indonesia’s Berau Capital Resources (BCE) II started receiving bids for a $450m five year non call three bond on Monday, August 11, as it looks to refinance an outstanding 2015 paper that is identical in size. The following day, books remained open despite the term sheet having indicated that the deal was due to price overnight Monday.

Delhi International Airport Limited (Dial) is preparing to join the procession of Indian high yield names making their debut in the international bond market after picking for banks for a dollar deal.

Huvepharma, the Bulgarian animal drugs firm, has tightened pricing on its €180m six year term loan ‘B’, in a move that goes against the trend of investor pushback in the leveraged loan market.

Huvepharma - Orion Engineered Carbons - Delek Group - Emsland – Stärke

The first seven month of the year have been busier for corporate bonds than at any time since 2009 but with many firms having finished refinancing for the year and macro risks abounding, issuance might have peaked, said market participants. Citi, for instance, this week advised clients to expect a less busy second half of the year, revising its investment grade corporate full year euro issuance forecast down to €210bn from €234bn.

China Construction Bank Asia is meeting investors for what could be the lender’s first ever Basel III compliant bank capital transaction.

Internet security provider Qihoo 360 Technology has priced the largest convertible bond from an Asian ex-Japan issuer in four years, taking home $900m on August, 1 in spite of a challenging market backdrop.

Korea Electric Power Corp (Kepco) netted W186.3bn ($180m) on Monday by selling a 4.4% stake in telecommunications company LG U+. Despite the leads opening bookbuilding without much demand already lined up, investors flooded into the deal, eager to get their hands on the stock.

The Asian arm of Louis Dreyfus Commodities has closed syndication of its three year revolver at $500m, higher than its launch size of $300m, with the borrower’s relationship banks coming into the deal.

Cosmetics packager HCP Global is targeting a US syndication for a $380m financing, banking on a strong reception from a market that is happy to invest in cov-lite deals. The facility is split into three and has a trio of banks at the top level.

Export Import Bank of Korea (Kexim) raised $1bn with a dual tranche bond on Tuesday, pricing through its curve for the five year tranche. But even though the issuer went out with a SEC-registered deal, the bulk of the demand still came from Asian accounts.