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Long-dated dollar bonds issued by Indonesian companies have been taking a beating in the secondary market, with the country's high yield sector also expected to suffer from the negative impact of an ongoing trade war between two of the world's biggest economies. -
Hellman & Friedman portfolio company Verisure announced a tap of its €300m 2023s on Monday morning, adding an extra €200m to the issue to pay back its revolver.
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Kames Capital has appointed Thomas Hanson as head of high yield fixed income and Eleanor Price as a high yield analyst.
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A hail of high yield and leveraged loan deals hit the European market this week, making it seem like investors and bankers were unaware of the angst permeating equity markets since President Donald Trump decided to up the ante in his trade poker game with China. Not every deal was a blowout, however — United Group priced its PIK note wide of guidance and Virgin Media failed to tighten.
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Shandong-based coal miner Yankuang Group Co was able to price a $500m tap almost 30bp inside where the existing notes were trading on Thursday, while E-House (China) Enterprise Holdings, a real estate services firm, also added $100m to an outstanding bond.
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Casino operator MGM China Holdings priced a larger-than-expected $1.5bn 144A/Reg S deal this week, and both tranches rallied in the secondary market despite a broader risk-off sentiment.
