Deutsche Bank

Trans Maldivian Airways has landed back in the Asian loan market for a $305m senior secured deal, following its acquisition by a consortium led by Bain Capital Private Equity at the end of last year.

Corporate bond investors were offered 10 year and 11.5 year new issues on Wednesday and combined order books of over €4.4bn showed there is significant demand for longer tenors in this market.

Equity investors seem to be shrugging off the geopolitical tension surrounding Turkey, which is fortunate for a pipeline of Turkish IPOs, but there are risks if relations with the US worsen further, writes Sam Kerr.

Investors looking for lower rated high yield bonds welcomed the roadshow of a three tranche, multi-currency deal from Algeco Scotsman, a US modular space and secure storage group, this week.

Morgan Stanley was sole bookrunner on two overnight sell-downs in Asia this week. One transaction was for its Taiwanese private equity arm in shares of CTBC Financial Holdings.

Corporate bond investors were treated to a relative feast of issuance on Wednesday following a meagre €850m of supply in the first two days of the week. A trio of higher beta names offered a variety of tenors and spreads for investors to choose from.

Providence Equity Partners increased the size of an offering to sell a 14.03% stake in Spanish telecom operator Masmovil through a block trade on Monday evening.

Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn.

Instone Real Estate Group, the German housebuilder, plans to go public on the Frankfurt Stock Exchange in February, having filed an intention to float document on Monday.

The German private nursing care group Alloheim Senioren-Residenzen is out with a new leveraged loan offering to fund its buyout by Nordic Capital. This loan is among the first deals to be lined up to close in February, as hopes build of a surge of merger and acquisition driven borrowing.

Polyus Gold, Russia’s largest gold producer, priced a $250m convertible bond on Friday, just a day after issuing a separate mandate for a new Eurobond.

Investors showed their faith in Tata Steel on Thursday, pouring money into the Indian issuer’s dual-tranche transaction, shrugging off the weak structure and aggressive pricing.