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Foreign corporate issuance running at record high
Nvidia's $25bn seven-tranche offering matched Meta’s issuance in late April which are only smaller than Amazon’s $37bn print from March
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Victoria plc, the UK listed carpet maker, is marketing a new bond with most of the proceeds earmarked for cash on balance sheet, an unusual move in the high yield market, where deals are typically aimed at refinancing or specific corporate actions. The company says it will be on the hunt for acquisition opportunities, funded by the Koch Brothers’ preferred equity injection last year as well as the new debt. -
China Aoyuan Group had to pay up to sell a $350m bond on Monday, as investors demanded compensation for the property company’s low rating and the deal’s long tenor.
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India's REC has raised $500m from a tightly priced bond that appealed to investors because of its relatively short tenor of 5.5 years amid volatility in the longer end of the yield curve.
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Online travel agency Hostelworld has signed a five year €30m secured loan facility with HPS Investment Partners, the asset manager headquartered in New York.
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EnBW, the German electrical utility, and the financing arm of a Dutch truck company, DAF Paccar Financial, hit screens with highly rated euro trades on Monday. Central bank bond buying higher than forecast, pushed investors to oversubscribe the deals even though the spreads on offer were thin.
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Listed real estate firm CPI Property is repaying a portion of its Schuldschein early at par, taking advantage of favourable legal conditions in Germany regarding early prepayments of floating rate loans. Sources say other companies may use this option if funding conditions remain so attractive in public markets.
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