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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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Four bond issuers from Greater China followed the Chinese ministry of finance into the dollar market on Wednesday, snapping up $1.4bn between them.
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Barclays has hired Gauthier Le Milon as head of M&A for France, Belgium and Luxembourg.
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The coronavirus crisis will continue to lead to divergence in economic fortunes, and that will play out in European capital markets as well.
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For CMA CGM, a French shipping company, the pandemic came in the nick of time. The group was struggling with debt maturities and dwindling liquidity in late 2019, but abundant state aid funding has allowed it to shore up its balance sheet return to market this week to refinance its 2021s.
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JSW Steel sold a $500m bond on Monday, but the issuer paid some 30bp of premium to close the trade.
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Three high yield Chinese property issuers turned to the offshore bond market on Monday, raising $950m between them.