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Rates and credit under pressure as battle to be UK prime minister looks set to heat up
Amazon’s Swiss debut and Alphabet’s first yen deal jolted debt markets this week
AfDB hopes to launch multi-issuer securitization this year
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As inflation fears spread through the bond market, demand has fallen, particularly at the long end of the curve. However, the SSA market defied this trend last week with borrowers seeking duration, with the average maturity of a deal around 13 years. Similarly, the corporate market stretched its averaged maturity to 12 years, from just 7.4 years the week before. -
TDR Capital is injecting £100m in equity and a £250m payment-in-kind financing to recapitalise gym chain David Lloyd Leisure, as part of a broad-based refinancing including the firm’s first public high yield bond issue. Barclays, which has done most of TDR's recent deals, is running the £900m-equivalent bond, announced on Tuesday morning.
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Qingdao Jiaozhou Bay Development Group Co, a local government financing vehicle from China's Shandong province, printed a $200m deal this week as it prepares to tackle an imminent bond maturity.
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Two Chinese real estate borrowers, Agile Group Holdings and Datang Group Holdings, hit the dollar debt market on Monday.
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A large sell-off over the past two months in the dollar bonds of embattled China Huarong Asset Management took a turn last week, as news around the firm’s financial health buoyed secondary market performance.
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Tottenham Hotspur FC has raised a further £250m of US private placements, to pay off Bank of England loans signed during the coronavirus pandemic.
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