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LevFin High Yield Bonds

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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
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  • India Toll Roads sold its first dollar bond on Tuesday, becoming just the latest issuer from the country amid an expected surge of supply this year.
  • Chinese property company Huafa Industrial Co Ltd Zhuhai raised $200m from the sale of a sub-one year note on Tuesday.
  • Solar and wind power company ReNew Power added further momentum to India’s green bond market this week with a new $460m deal.
  • Asda has launched the largest ever sterling high yield bond, and the largest single tranche in the whole European high yield market, to fund the takeover of the UK supermarket group by the Issa Brothers and TDR Capital.
  • Chinese solar power company GCL New Energy Holdings has met the threshold needed to restructure its debt, following its default on a dollar bond at the end of January.
  • Chinese property company Fantasia Holdings Group Co returned to the debt market this week for a $150m tap to meet some imminent refinancing needs.