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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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US car rental company Avis Budget Group called in on European investors on Wednesday with a refinancing that extended a busy pipeline of reverse Yankee high yield deals in euros.
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It has taken just two US companies to bring seven tranches of new bonds to the European market this week, with the two year floating portion of each multi-tranche transaction gaining the most affection from investors.
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Indian film producer and distributor Eros International is putting together its inaugural dollar-denominated transaction, hiring three firms to work on the bond.
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Hong Kong-listed Singamas Container Holdings has reached out to lenders for a $250m borrowing with one bank at the helm. Although the company posted a loss for the six months to June 30, 2016, its strong balance sheet due to low debt is expected to see the deal through, said bankers.
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Tuesday turned out to be a big day for aviation related companies with Grand China Air, China Aircraft Leasing Group and Hong Kong Express Airways venturing out with their respective bonds, raising a combined $810m.
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Air India is set for a quick return to the loan market, launching a request for proposals (RFP) for a $250m deal that is divided into a senior and a junior piece.
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