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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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The dark clouds of volatility and uncertainty that had loomed over the Asian bond market for months finally cleared this week as bankers welcomed $3.7bn of issuance in the second busiest week since US quantitative easing tapering fears took hold in late May. -
High yield bond issuance related to acquisitions is running this year at its highest level since 2007.
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European leveraged loan investors have long been more conservative than their US counterparts, insisting on stricter terms and wider pricing. But with European borrowers crossing the Atlantic to issue loans, lenders in Europe need to grow more flexible or lose out to US rivals.
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Exopack Holdings, the US-based packaging group, has increased the euro tranche of its new $675m-equivalent transatlantic loan package, to meet demand from European investors.
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Topaz Marine has released guidance for its $350m debut bond. Leads on the high yield deal will close European books at close of business on Thursday and US books later in the day.
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Domestic & General, the UK insurance company, has set final terms on its three tranche £500m high yield bond. The floating rate tranche was increased by £25m at the last minute, while the unsecured fixed rate was cut by the same amount.
