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Embattled utility makes final plea for court to sanction £3bn in emergency funding
Thames Water refinancing battle is an unedifying mess
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
High yield issuers may be worried about market access, but some do not see them losing it
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China’s Xinyuan Real Estate Co has sold a par-priced $200m deal, paying one of the highest coupons for a public dollar bond in Asia so far this year. -
Indonesian coal company Toba Bara Sejahtra culled its debut dollar bond on Monday, as turbulent markets and new domestic rules around caps on coal prices put investors in risk-off mode.
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Two new high yield deals were announced on Monday with two day roadshows and seven year non-call three year structures that were expected to be priced later in the week. Oil exploration company Tullow Oil will offer a dollar deal while German packaging company ProGroup will sell a euro one.
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Four Asian issuers began marketing dollar deals on Monday, as a number of others started testing buy-side appetite through roadshows. But borrowers will have to temper their expectations on size and price, faced with a choppy market backdrop.
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A breach of reporting covenants on a €350m 2022 bond of Vieo, the company that owns the low cost mobile telecoms provider Lebara, has left the Nordic high yield bond market soul searching.
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Taizhou Huaxin Pharmaceutical Investment Co executed a club-style deal on Thursday, raising $150m from a three year bond. It wasn’t the only Chinese firm wooing the buy-side. State-owned Tewoo Group opted for a perpetual deal, while Shimao Property Holdings tapped the offshore renminbi (CNH) market for the first time.
