Goldman Sachs
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Leveraged loan bankers in Europe speak of a growing pipeline, but the only deal priced this week was a small loan extension from Wittur, the German maker of lift parts.
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NWS Holdings and Sino-Ocean Group Holding received more than $4bn in orders for their respective bond outings, with their deals in hot demand both in primary and secondary markets.
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South Korean discount store chain Homeplus is set to launch a real estate investment trust IPO next month, according to a source close to the deal.
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It was another sparkling week in dollars for public sector borrowers, with Asian Development Bank the pick of the bunch as it brought the tightest deal of the year so far versus Libor and US Treasuries. More supply is expected for next week, although some SSA bankers feel the market could do with a “breather”.
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High grade corporates are champing at the bit to access the dollar market as credit spreads continue to rally and investors continue to put money to work.
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Profit Reach, an investment vehicle owned by Chinese billionaire Shen Guojun, is seeking a $550m refinancing loan with a rare put option provided to lenders. The deal has raised debate over whether the structure can catch on in Asia. Pan Yue reports.
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Club-style Chinese deals were back this week as Peking University Founder Group Co raised $150m from a three year bond and Yankuang Group grabbed $215m.
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Goldman Sachs has appointed Jung Min as co-head of its Asia Pacific ex-Japan technology, media and telecom group.
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The public sector dollar market on Wednesday showed that it had more than enough depth to cope with a pair of issuers bringing deals in the same maturity with just a basis point of difference in initial price thoughts, as both trades came in size and at tightened pricing. Another agency is set to dip into the demand on Thursday.
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Two SSA borrowers will go head to head in the dollar market on Wednesday, bringing five year benchmarks with only 1bp difference in initial price thoughts.
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Leveraged finance markets in Europe are looking up, and bankers expect they may even see some deals priced before long.