Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
KWG Property Holdings, Petron Corp and Reliance Industries all turned to the dollar bond market this week, providing a neat illustration of what investors are willing to accept from perpetual bond issuers — and which structures will face their wrath when secondary trading opens.
-
KWG Property Holdings turned away from the bond market only two weeks ago, giving up a perpetual deal. But when it returned this week with a more modest transaction — this time pitching a seven year non-call four bond — the developer found its fortunes much improved, and managed to price the deal with virtually no new issue premium.
-
Melco Crown Entertainment priced a $1bn eight year non-call three bond on Wednesday, helping the company finance a tender offer for another dollar deal as well as repay a maturing renminbi note.
-
MIE Holdings Corporation launched a five year non call three deal with an aggressive opening spread on Wednesday. But buyers inundated with dollar bond issuance pushed back, and the issuer had to price a modest $200m deal in line with initial guidance.
-
Chinese property developer Mingfa Group made it across the finishing line with a five year non-call three dollar debut late last week. But widening bond indices and a procession of first time names from the same sector meant the borrower had to settle for a $100m deal.
-
Tata Communications became the first privately-owned Indian company to print a Singapore dollar deal last week. The demand from institutional investors and the final pricing exceeded even the bookrunners’ expectations, and there is no shortage of corporations looking to follow in Tata’s footsteps, said bankers.