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The era of pure-play private equity is over. Banks are pulling different divisions together to serve the complex needs of global asset managers
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
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A new bond refinancing deal for German fashion company Takko will provide a welcome boost to triple-C bond volumes, although it is not clear whether the deal will pave the way for a wave of risky credits to return to the high yield market, bankers said. -
Investors flocked to Press Metal Aluminium Holdings’ inaugural dollar bond sale on Monday, allowing the issuer to walk away with a tightly priced deal nearly 10 times subscribed.
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China Huaneng Group, one of the country’s biggest state-owned electric utility enterprises, priced a $500m senior perpetual bond on Monday. Execution was smooth thanks to the company’s status as a central state-owned enterprise (SOE) and its market position, but time is needed for it to perform in secondary.
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Första AP-Fonden (AP1) has become the latest institutional investor to look beyond Europe for returns in the corporate high yield bond market, with Hermes set to manage its new global high yield fund.
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CVC Credit Partners has hired the former head of credit structuring at Nomura as managing director and global head of CLO origination.
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Southeast Asian issuers have been largely absent from a bumper crop of dollar bond supply in the region over the last few weeks. But Malaysian aluminum producer Press Metal Aluminium Holdings is planning to add a bit of spice to the market, after opening books for its debut on Monday.
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