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Disruptive US economic policy has not yet dented credit appetite
High yield investors nibble at IG names, as credit investors brace for ‘trillions’ unlocked from money market funds
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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International bond investors welcomed back Tower Bersama for the first time in two years as the Indonesian telecoms tower operator priced a $350m seven year non-call four offering on February 3. On the back of strong demand, the issuer achieved the lowest ever yield for a seven or longer tenor offering from a private Indonesian company in the high yield market. -
Shimao Property Holdings is looking to be the first high yield property name from China to tap the offshore bond market this year, opening books to a 7 non call 4 dollar transaction on February 3. And many market participants are keeping a close eye on the deal as they see it as a benchmark for a sector that is still reeling from its first offshore bond default.
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Indonesian telecom tower operator Tower Bersama is looking to make its first appearance in the international bond market since making its debut in 2013, opening books for a seven non call four year dollar bond on Tuesday, February 3.
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UK insurance broker Towergate announced on Monday that a committee representing a majority of senior secured bond holders had finally agreed to cancel more than £600m of debt – and gain a 100% stake, leaving little if anything for unsecured creditors. But on Thursday, it was the unsecured creditors who grabbed the headlines.
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Hurtigruten, the Norwegian cruise operator, sold a €455m bond through Silk Bidco on January 30, to fund private equity firm TDR's acquisition of a larger stake in the business.
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Cerba European Lab, the clinical pathology laboratory company, raised €230m on January 30 by tapping its 7% 2020 bond and issuing a new note, which even attracted investors new to the high yield market.
