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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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On Thursday, the European corporate bond markets had two new telecoms deals to consider. Iliad, and unrated French issuer, priced a seven year deal, while Telecom Italia opted for longer. -
Ratings crossover credit Telecom Italia has set final terms on a €1.25bn 10 year trade, which bankers say appeals to high grade investors despite most of the issuer’s ratings sitting at junk levels.
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German Unity Day and Golden Week in Asia have given European corporate bond investors a break from new issues and a chance to consider whether the current tight level of spreads is right or too tight. Many expect more tightening to come, so picking the right sectors and geographies will be the key to performance.
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Chinese water treatment and recycling solution provider Citic Envirotech is readying its second international dollar bond, having mandated three to arrange a roadshow from the end of this week.
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21Vianet Group priced a tap of its outstanding $200m 7% 2020s last Friday, using up the rest of its regulatory debt-raising quota ahead of a week-long public holiday in China.
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Iron Mountain, Bormioli and Constellium revved up the engines of the European high yield market with new deals announced on Tuesday that pushed overall issuance so far this year closer to 2014’s all-time €84bn high.
