Deutsche Bank
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The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings. -
Travel services provider Hotelbeds has increased its €172.5m term loan add-on to €200m, also cutting the margin guidance from 625bp to 500bp with a 0% floor.
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US car rental company Avis Budget Group called in on European investors on Wednesday with a refinancing that extended a busy pipeline of reverse Yankee high yield deals in euros.
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Indian film producer and distributor Eros International is putting together its inaugural dollar-denominated transaction, hiring three firms to work on the bond.
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Robust market conditions enabled the execution of the largest block trade of the year so far on Tuesday night.
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French pharmaceuticals firm Ethypharm increased the sterling tranche in its term loan package on Tuesday, as it seeks to acquire UK-based Martindale Pharma.
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RPC Group, the UK maker of rigid plastic packaging, has secured a 96% take-up on the £552m rights issue it launched to reduce its leverage after making seven takeovers since September.
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UniCredit, the largest bank in Italy, has formally finished its €13bn rights issue after selling the unexercised rights on the market for €15m.
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Issuers from Greater China are set to storm the debt market soon with China Reinsurance Finance Corp, China Cinda Asset Management Co, Grand China Air Co and Pacific Century Premium Developments eyeing dollar offerings. Separately, New China Life Insurance Company has got the green light from its board to raise funds offshore.
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ParexGroup, the French construction chemicals maker, has scheduled a bank meeting for Monday for an €865m seven year term loan to refinance €700m of floating rate notes, as Irish telecoms firm Eir released price guidance on Friday for its €1.6bn loan refinancing.
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The Indian government has raised Rp16.7bn ($250.5m) by selling a portion of its stake in Bharat Electronics through a popular offer for sale.
