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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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Tata Motors (TML) delivered a top quality drive-by bond on Thursday. Not only did the 5.5 year offering prove so popular that 317 investors were biting the issuer's arm off to get an allocation, but TML was also able to meet a price target that bankers said was demanding, as well as extend its maturity profile by issuing an additional last-minute 10 year bond. -
Swedish cable operator Com Hem priced its Skr2.5bn (€272m) bond tightly on Thursday. It will use the proceeds to refinance Skr3.5bn of senior secured notes.
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Germany’s Fresenius Medical Care launched a $900m high yield bond issue in the US market on Wednesday, via Wells Fargo, Citigroup, Deutsche Bank, Scotia Bank, HSBC and Suntrust Robinson Humphrey.
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Spain’s capital market boom is being undermined by the return of local lenders, but international banks are well placed to capture a bulging M&A pipeline, writes David Rothnie.
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It has been a rollercoaster ride for investors in the Asia ex-Japan high yield market in recent weeks, with macro volatility and sector-specific issues in Chinese property names conspiring to make life uncomfortable for all but the most battle-hardened accounts. But with the situation stabilising this week, market participants are already predicting a quick return to form, writes Rev Hui.
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Grand City Properties, a Luxembourg-registered, Frankfurt-listed company that invests in German residential property, is expected to price about €350m of high yield bonds on Friday, a banker familiar with the deal said.
