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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
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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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Zhongyuan Yuzi Investment Holding Group Co sold the first offshore bond from a Chinese local government financing vehicle (LGFV) on Wednesday, pricing it 15bp inside analysts’ fair value estimates.
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A slew of Chinese issuers are wooing dollar bond investors on Thursday, as Philippine company Petron Corp also competes for buy-side attention.
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Dollar investors had plenty of Chinese property bonds to choose from this week, with four issuers competing for their attention on Tuesday. But with no end in sight to the pipeline, companies will have to navigate the market carefully, or cough up a premium for their bonds.
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Chinese issuers BOSC International, a local government financing vehicle from Henan, Lai Fung Holdings and Hilong Holding are in the market with new deals on a busy day for issuance.
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Philippine company International Container Terminal Services (ICTSI) opened books for a fixed-for-life dollar perpetual bond on Wednesday, making it the first issuer to take advantage of the country’s ratings upgrade last month.
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India’s IL&FS Transportation Networks launched an offshore renminbi bond on Wednesday morning, following Westpac Banking Corp’s opening of the dim sum market earlier this week.