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High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
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Thames Water refinancing battle is an unedifying mess
Embattled utility asks judge to approve £3bn lifeline as creditor groups keep fighting
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Melco Resorts Finance on Thursday sold a tightly priced eight year non call three bond to refinance its outstanding 2021s, with its deal over 2x subscribed.
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Indonesia’s Agung Podomoro Land (APL) priced its maiden offshore bond on Thursday, achieving a number of firsts thanks to its leading position in the country’s property market and its strong financials.
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Dr Peng Telecom & Media has sealed its debut bond, raising $500m from a three year that was over 5x covered. Enthusiastic accounts in Asia and Europe piled in to the deal, enabling the lead to slash pricing by a hefty 45bp.
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The euro high yield market was dining on small portions this week, and there's little prospect of a sustained return to high volumes — despite the two chunky deals expected soon.
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A group of private equity firms have joined forces to merge UK insurance broker Towergate and four peers into a new industry player called Kirs, and this week launched a £800m bond to back the move.
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The Asia ex-Japan G3 bond market saw a slew of issuers from a variety of backgrounds hit the market on Thursday, with borrowers from Greater China as well as Indonesia venturing offshore.