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High yield

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Thames Water refinancing battle is an unedifying mess
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High yield issuers may be worried about market access, but some do not see them losing it
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  • Guangxi Financial Investment Group Co raised $500m from its debut on Monday — a rather large amount for a sub-investment grade government-owned Chinese credit. But the deal was priced in line with comparables, despite bankers and some accounts viewing the credit differently.
  • Three Chinese issuers are seeking fresh funding from the dollar bond market on Tuesday, with one wooing accounts for a comeback deal and the other two making their debuts.
  • China’s Concord New Energy Group is hoping for second time lucky in the dollar bond market, opening books for a new green deal on Tuesday, about two months after a failed attempt.
  • Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.
  • Two issuers from the Guangxi province of China, Guangxi Financial Investment Group Co and Guangxi Communications Investment Group Corp, are hitting the dollar bond market for funds.
  • Power Construction Corporation of China (PowerChina) and Yingde Gases Group Co each sold a $500m bond on Thursday, taking advantage of a receptive market.