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High yield

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Ex-Deutsche banker scooped up
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High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
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  • Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.
  • Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday
  • DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.
  • HSBC has become the latest bank to create a dedicated team for sustainable finance amid the coronavirus crisis. This is part of a new strategic solutions group, which will also house two other solutions units: one for corporate finance, and one for financial institutions and capital.
  • Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.
  • Chinese property developer Fantasia Holdings Group Co took advantage of the favourable market conditions on Thursday to raise money for refinancing. It found more support than anticipated, allowing it to seal a larger $350m bond.