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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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FTE Automotive, the German hydraulic clutch maker bought by Bain, has released guidance in the 8.75% to 9% area for its debut high yield bond. Books closed at 4pm today with pricing set to happen thereafter.
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Findus, the fish and frozen food company, has announced plans for a £410m-equivalent debut high yield bond . The five year senior secured notes will comprise sterling, euro and Swedish krona tranches and will refinance all Findus's loans.
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UK cinema chain Vue Entertainment has launched its £550m-equivalent buyout financing bond after premarketing it last week. The seven year senior secured notes will come with fixed and floating rate coupons.
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Continental, the German tyre maker, wants to sell at least €500m of high yield bonds to partly refinance its 7.5% bond issue due in 2017.
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Asian investors have started adding to their emerging market bond portfolios in the past week, judging that valuations are now attractive enough to make buying a sensible option.
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A buoyant high yield market and lenders’ willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody’s. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.