Credit Suisse
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Credit Suisse became the first issuer of additional tier one (AT1) paper market in dollars this year, seizing the high levels of appetite for this asset class to print through fair value. -
UK chemicals giant Ineos’s German styrenics subsidiary is marketing €500m of senior secured notes and a €680m equivalent term loan B, with an intention to issue a €300m dividend to its parent company, controlled by billionaire Jim Ratcliffe. The remaining proceeds will be used for refinancing all of its term loans and some of the upcoming investments.
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US issuers are tapping into favourable conditions the euro bond market after reporting their latest results. Goldman Sachs and New York Life Insurance were quick to launch senior bonds on Thursday, boosting supply volumes just as European lenders start preparing for their own reporting season.
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Taiwanese LCD panel maker Innolux Corp raised $300m from a zero coupon convertible bond this week, riding a new wave of demand for the asset class in 2020.
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Three Chinese real estate companies raised $850m between them from the dollar debt market on Wednesday.
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Taipei-listed Innolux Corp hit the market on Wednesday with a $300m convertible bond, its debut equity-linked deal.
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Indonesian real estate developer Lippo Karawaci played to investors' need for diversification away from China, when it raised $325m from a 2025 bond sale.
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SMC Global Power Holdings Corp took advantage of an exceptionally bullish credit market, getting a peak order book of around $5bn for a $600m deal.
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The Carlyle Group, a US-based multinational private equity firm, offloaded its position in China Literature this week through a HK$1.53bn ($196m) overnight block trade.
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Froneri, a PAI Partners-backed ice cream company, is syndicating the financing for its acquisition of Nestlé’s US ice cream business, raising €5.7bn-equivalent of first and second lien debt across three currencies.
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Banco BPM did not need to pay a new issue premium to follow UBI Banca with the sale of an additional tier one (AT1) on Tuesday, as Italian banks make the most of an 'issuer's market' at the beginning of 2020.
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Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.
