Deutsche Bank
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Maoye International Holdings has returned to the dollar bond market, two months after failing to price its debut CNH deal. The borrower also attempted to price a dollar bond last year but launching just weeks before the taper tantrum started meant that the deal was not completed. However, bankers are confident that investors are comfortable with the credit and that the new deal will price tonight. -
Nearly 80% of investors holding Brazilian pulp producer Fibria Celulose’s 2021 bonds have agreed to sell the notes back to the company as the company continues its attempts to become fully investment grade.
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Indian Oil Corp has mandated nine banks for its latest fundraising, with the strong support at the top allowing the borrower to increase its loan to $650m from the $500m it had sought in its request for proposals.
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Logan Property Holdings is meeting fixed income investors next week in Hong Kong and Singapore.
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The renminbi’s global footprint deepened on Thursday when Bank of China Luxembourg and Agricultural Bank of China Hong Kong printed the first CNH notes from a Chinese borrower to be listed in the eurozone.
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Santander and UBS both took to the Reg S market on Thursday to sell subordinated debt to dollar hungry European and Asian investors.
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Concerns over Brazilian economic growth are apparently not strong enough to prevent issuers from the country making the most of bond investors’ desperate search for yield. First Caixa Econômica Federal and then Fibria Celulose issued tightly-priced, well oversubscribed deals at a larger than originally indicated size this week.
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Mexican broadcaster Televisa took the LatAm bond market deep into negative new issue premium territory on Thursday as confidence regarding rates and immunity from political turmoil in eastern Europe provided LatAm borrowers with issuance conditions well beyond the expectations of many bankers.
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Íslandsbanki sold its inaugural euro bond with a €100m private placement this week, in contrast to Icelandic peer Arion Bank’s suspension of its planned public benchmark euro deal last week.
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Flint Group, which makes products for the printing and packaging industries, has made final adjustments to the original issue discounts for its €1.5bn-equivalent of debt after raising the margins on first and second lien tranches.
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German insurer Württembergische Lebensversicherung sold its second ever subordinated bond on Wednesday. Recent sub deals from insurers have attracted favourable responses from investors, a result of offering a more attractive yield than comparable bank paper.
