Deutsche Bank

Chinese after-school tutoring services provider TAL Education raised $200m on May 15, pricing a 2019 convertible bond in the middle of guidance after finding good interest from investors.

Chinese real estate company Franshion Properties, which in March announced the possible spin-off and listing of its hotel assets on the Hong Kong Stock Exchange, has launched into general syndication a HK$4bn ($516m) loan to back its plans.

China’s Huawei Technologies launched a $1bn revolver into the European market on May 19 as it aims to expand its funding sources away from Asia.

Train manufacturer China CNR Corp priced its HK$9.4bn ($1.13bn) Hong Kong IPO close to the bottom of its indicative price range on May 16, in a deal that produced very different outcomes for its institutional and retail tranches.

Yanzhou Coal Mining (Yancoal) priced a perpetual non call two year hybrid on May 15 to bolster its balance sheet. As slowing economic growth in China fanned concerns about the prospects for the country’s coal industry, the issuer took a cautious approach to structuring and had to pay a hefty premium.

Latin American development bank Corporación Andina de Fomento increased the size of its first euro benchmark for three years as it gets closer to its aim of being considered an SSA, rather than EM, issuer.

Construction company Empresas ICA made the most of high demand for Mexican high yield paper to print a rare 10 non-call five trade from a LatAm single-B issuer, increasing the size of the deal in the process.

Banco General became the first Panamanian issuer to tap the Swiss franc market on Wednesday morning, selling a four year deal. Bankers away from the deal said that an investment grade credit rating and an attractive spread over swaps made the deal interesting for Swiss investors.

Mexican construction company Empresas ICA announced initial price thoughts of mid-9% for a new 10 year non-call five dollar benchmark to be used to fund a tender offer.

Gallant Venture, which is in the market to refinance debt taken on for acquisitions, is considering reducing its loan to around $175m from the launch size of $410m, having sold two Singapore dollar bonds in April and May.

Colombian state oil company Ecopetrol pounced on a rally in its bonds to price a $2bn deal due 2045 flat to or through its existing curve, timing its new deal much better than its previous issue in September 2013.

UK poultry producer Moy Park today began roadshowing £250m of senior high yield bonds, to be used in part to repay debt owed by its parent firm, Brazilian food processing company Marfrig.