Loans and High Yield

A $170m loan supporting Blackstone’s acquisition of Essel Propack (EPL) has been launched into general syndication, attracting two lenders already.

The return of heightened market volatility this summer is leading to investors looking at defensive assets as fund managers consider how to ride out a possible turn in the economic cycle.

The first investment grade euro corporate bond since Daimler's €3bn four trancher at the beginning of August appeared on Wednesday morning. E.ON, the Baa2/BBB rated energy company, is in the market with a debut green bond — a benchmark five, and 10.5 year dual tranche deal.

Sunac China Holdings has raised a $280m loan term from five lenders.

Ed Welsh will join HSBC in November as global head of business services, although his work is expected to be heavily centred around the UK, as the bank ramps up efforts to gain market share among the country’s biggest listed firms.

Alastair Blackman, formerly a top media investment banker at Deutsche Bank, will be developing relationships with the heads of UK firms on behalf of Barclays from next month.

Far East Consortium International (FEC) is in talks with banks to raise a bridge facility of around HK$1bn ($127m) to support its acquisition of a land plot in Kai Tak, this site of Hong Kong's old airport, from the government.

The price of real estate developer Kaisa Group Holdings' dollar bonds climbed after China announced a detailed plan over the weekend to develop the company's hometown, Shenzhen.

PG&E’s high yield bonds are trading above par, even as Chapter 11 bankruptcy proceedings advance at the Californian gas and power company. According to one credit research company, bad news may even be good news for the bondholders.

Fujian Zhanglong Group Co skirted the market volatility last week to seal a $500m deal on Friday, using up its regulatory offshore quota.

Housing Development Finance Corp has made a quick return to the syndicated loan market for a $200m borrowing, five months after it sealed a Samurai loan.

Local government-owned Shandong Guohui Investment Co made a quick comeback to the dollar bond market to raise $300m on Thursday, when its Chinese peer Qingdao Jimo District Urban Development Investment Co made its offshore debut.