Deutsche Bank
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Fresenius Medical Care priced its $900m senior unsecured high yield issue in the 144A market on Friday October 24.
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The Vietnamese sovereign has revived its plans for a sovereign bond, mandating the same banks that took it on roadshows back in April 2013 for a new series of investor meetings, with a 144a/Reg S transaction now looking closer than ever.
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Korea Expressway Corporation, China Travel Service (CTS) and Tewoo Group are all out in the market with new dollar bonds. The Korean government related issuer (GRI) was last seen in April this year and adds to a relatively busy month for Korean issuers. CTS, on the other hand, has not been in the market since 1996. -
Aluminium manufacturer China Hongqiao Group is tapping the offshore debt market for funding once again, opening books for a dollar bond on October 27, just four months after making its debut.
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Swiss franc investors snapped up a long dated Quebec issue this week following a shift in demand toward 10 year paper.
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SAP, the German software firm, closed syndication of the €7bn bridge facility for its $8.3bn acquisition of US expenses software firm Concur at the end of last week. It was the latest in a series of deals to obtain the participation of all the invited banks, fueling expectations that upcoming deals will also be popular.
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A pair of borrowers braved dollar issuance this week after volatility in US Treasuries last week led to a pair of undersubscribed deals. But so far the market recovery has taken the shape of a pair of ultra conservative German borrowers at the short end of the curve. Bankers will have to wait until next week to see an issuer test demand in the belly of the curve.
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US pharmacy chain Walgreens is set to launch a three day roadshow on Wednesday October 29 for a potential debut bond in euros, sterling, or both.
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Germany’s Fresenius Medical Care launched a $900m high yield bond issue in the US market on Wednesday, via Wells Fargo, Citigroup, Deutsche Bank, Scotia Bank, HSBC and Suntrust Robinson Humphrey.
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FMS Wertmanagement is open to opportunistic private placements ahead of the end of the year, after a $1.5bn long two year benchmark took it to nearly €11bn done of a 2014 funding target that it originally set out as €10bn.
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Grand City Properties, a Luxembourg-registered, Frankfurt-listed company that invests in German residential property, is expected to price about €350m of high yield bonds on Friday, a banker familiar with the deal said.
