Goldman Sachs

Shares in ContourGlobal, the emerging markets-focused power producer, managed to stay above their IPO price all day on Thursday after they began trading on the London Stock Exchange.

Leveraged loan issuance is set to outpace sales of new high yield bonds with a surge this year, pushed by a varied array of borrowers seeking not just tighter margins on old debt, such as US chemical group Angus this week, but also funding for acquisitions, as with Nordic travel operator Etraveli.

ICBC Financial Leasing Co raised $950m from a dual-tranche transaction on Wednesday, as it focused on extending its maturity profile. But its 10 year struggled to gain traction, against a backdrop of falling 10 year US Treasury yields.

Two US flotations of Chinese firms raised $686m this week, after one was priced in the middle of the range and traded down, while the other was set to make its debut on Thursday.

The SSA dollar juggernaut is set to roll into a third day, with two deals on screens for Thursday’s business. Investor appetite shows no sign of letting up, as the two deals priced on Wednesday drew large books — as was seen with a host of trades a day earlier.

Excelitas and Axilone have added to the list of leveraged buyouts catching the attention of the European market amid a busy stream of loan repricings.

KWG Property Holding raised $300m from a seven year non-call four bond on Tuesday, managing to pay a zero to negative new issue premium despite hitting the dollar market for the fourth time in 2017.

ICBC Financial Leasing Co hit the dollar bond market on Wednesday with a dual-tranche transaction, returning a few months after its last international issuance.

Public sector borrowers have crammed more dollar deals into Tuesday than are sometimes seen in a week. But far from suffering from too much choice, investors gobbled up everything on offer — and bankers expect them to do just the same for two deals on Wednesday’s menu.

The UK Debt Management Office has broken its record book size yet again and brought in a new high of 144 investors with a deal that leads called a “rousing success”.

In a new sign of how hot Europe's leveraged finance market has become, Verisure, the Swedish security systems company, is seeking to raise €3.5bn of bonds and loans, partly to fund the market's biggest dividend recapitalisation this year.

Chinese local government financing vehicle Yunnan Provincial Energy Investment Group Co and real estate developer KWG Property Holding are taking bids for their respective dollar bonds on Tuesday.