HSBC
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Thermo Fisher Scientific announced in May that it was to acquire Patheon for $7.2bn, including $2bn of net debt. Thermo Fisher expected to finance the deal with $5.2bn of debt and $2bn of equity. On Tuesday it put a big dent in the debt figure with a €2.6bn four tranche corporate bond offer. -
European high yield market participants took caution from Tereos’ decision to postpone a perpetual hybrid bond issue on Tuesday, suggesting that the structure still confuses investors.
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US cleaning products maker Diversey has accelerated commitments on its €1.6bn-equivalent of loans, backing Bain Capital’s $3.2bn carve-out of the business from Sealed Air, despite one investor in London expressing concern over the deal’s leverage.
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After a dire first half of the year, the Panda bonds market had a busy week with five issuers either pricing their deals or revealing their intention to come to the market. While red chip real estate names still make up most of the pipeline, sovereign and local government issuers are starting to get a piece of the action, with Hungary and the Province of British Columbia (BC) leading the way.
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China Life Insurance (Overseas) Company is marketing a 10 non call five subordinated bond on Thursday, capping the deal size at $250m.
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Healthcare company Parkway Pantai opened books for its inaugural dollar bond on Thursday morning local time, collecting bids for a perpetual non call five year.
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UK health retailer Holland & Barrett has launched £900m-equivalent of loans backing its £1.77bn buyout by L1 Retail, the consumer focused arm of holding company LetterOne, founded by Russian billionaire Mikhail Fridman.
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China Development Bank Financial Leasing Co (CDBL) has named banks to run its proposed dollar transaction, with investor meetings beginning this week.
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Castle Peak Power Company added to Asia's growing green bond supply this week, raising $500m from its debut in the international debt market.
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Sweden on Tuesday printed a dollar benchmark at one of the tightest spreads to mid-swaps from a public sector issuer this year, as a Canadian province prepared to bring a deal in the currency further out the curve.
