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Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
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De Nederlandsche Bank has become the first central bank to sign the Principles for Responsible Investment, as the next stage in its development of a fuller approach to sustainability, including in its investments.
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Chinese online travel agent Ctrip.com International has launched its first offshore deal, for €600m, two years after raising a larger onshore facility.
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Hong Kong’s Konew International Group has debuted in the offshore loans market, raising $150m.
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Four Chinese sub-investment grade yield issuers, mostly property developers, stormed the offshore bond market on Wednesday, allowing yield-starved investors to pile in with orders.
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Telecoms company Cable & Wireless, which operates mostly in the Caribbean, added $300m to its longest dated bond on Wednesday in a deal that received strong backing from US high yield buyers.
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Alternative investment manager Investcorp announced on Wednesday that it was welcoming a new chief executive to it US credit management operations.
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