GC Asia
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Sazka scratches off another bond, two months after euro debut
Czech lottery giant Sazka hit the road again on Monday, marketing €300m of seven year senior unsecured notes. Sazka completed its first ever issue with great success in the euro high yield market in mid-November. It is now trying to repeat the trick, with JP Morgan again leading the issue.
05.00 PM -
Digi launches refi bond, riding on growth in Romanian telco market
Romanian telecoms giant Digi is marketing an €800m bond, offering investors exposure to risky but fast-growing Eastern European economies. Digi is joining the long list of companies taking advantage of exceptionally favourable refinancing conditions in European high yield.
03.15 PM -
Aoyuan closes $230m loan with eight banks
China Aoyuan Group has closed a $230m-equivalent club loan with eight banks.
24 Jan 2020 -
Credit Suisse rejigs IBCM after ‘tough year’
Credit Suisse has streamlined its investment banking and capital markets operation (IBCM) and is confident that it will return to form after a chastening 2019, writes David Rothnie.
23 Jan 2020 -
Vivacom takeover package prints through tights but PIK lags
Southeast European telecoms group United Group, a BC Partners and KKR portfolio company, is marketing an all-bond financing package for its takeover of Bulgaria’s Vivacom, marketing new senior secured bonds and an add-on to its existing 2025 PIK notes.
23 Jan 2020 -
People moves in brief
No more Vice at ICE — Barclays places Hill at risk — HSBC picks head of new illiquid credit syndicate unit
23 Jan 2020 -
Altice fan club shows up for sub debt switch
Altice France jumped into one of the busiest weeks on record for European leveraged loans and high yield issuance, issuing €2.1bn of bonds and simplying the group’s capital structure. Despite the complexities of the exchange, eager buyers showed up for the bond, taking down Caa1/CCC+ debt at just 4%.
23 Jan 2020 -
Sovereign debt at greater risk of being ‘stranded’
The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.
23 Jan 2020 -
EQT considers ditching credit arm as private debt turns sluggish
Swedish PE firm EQT Partners has mandated JP Morgan to advise as it considers divesting its credit business. The strategic shift at EQT is happening as the private credit sector is getting increasingly crowded.
23 Jan 2020 -
Bonds back on top as Techem changes tack
High yield bonds are back on top as the capital markets funding tool of choice for leveraged companies. This week, Techem tweaked its loan repricing to add a heavy bond slug and take advantage of near-record low coupons on offer. That sets 2020 up with a very different tone from the past two years, when an ever-growing CLO market meant bonds struggled to compete with loans, writes Owen Sanderson.
23 Jan 2020
High Yield Bonds
Asia high yield bonds news
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Thailand gives nod to Vietnamese, Laos issuers
Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.
24 Jan 2020 -
GBP considers guidance on Enel-style bonds
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Asian green bonds build on 2019 momentum
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Evergrande floods market with $6bn of bonds
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Korean, Indian borrowers plug into green bonds
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Greater China issuers close out year of the pig
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Pulled deals: a warning sign for Asian bonds
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Investors pour into China property bonds
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BSD rides market wave for dollar trade
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Europe's CPI scores Singapore dollar bond
