Loans and High Yield

Chinese real estate developers Sunac China Holdings and Yango Group returned to the offshore market on Tuesday, with the former raising a larger-than-expected $600m. Property and construction firm Jiangsu Zhongnan Construction Group Co also priced its maiden dollar bond.

After Monday’s partial holiday across Europe, strong market conditions gave several high yield issuers confidence to press ahead with new issues on Tuesday. The new issue pipeline cuts across credit quality and use of proceeds, giving investors options from IG-style refis to single-B M&A trades.

Michael Collinson has joined Houlihan Lokey as a managing director to lead its consumer products efforts in Europe. He comes from William Blair.

Inalfa Roof Systems Group, a Netherlands-based car roof system supplier owned by Beijing Hainachuan Automotive Parts, is tapping Asian liquidity for a €200m loan.

Guangzhou R&F Properties Co was back in the dollar market on Monday, tapping its 8.125% 2023 bond at a generous premium in what was its fifth offshore outing this year.

Two Chinese property companies raised a combined $485m at the end of last week ahead of the holiday weekend in Hong Kong.

UBS has hired Régis Turrini as head of France for corporate client solutions.

Galapagos, the German heat exchanger manufacturer, unveiled a restructuring plan on Friday afternoon that it said was backed by all the lenders in its revolver and more than 79% of the senior secured notes. Unsecured creditors, represented by Gleacher Shacklock, now have to decide whether to back the plan — which offers them little cash, but a chance of equity upside.

Iva Horcicova has resigned from ING and will join another financial institution.

A managing director from Barclays' leveraged finance syndicate desk is leaving the bank.

Mitsubishi UFJ Financial Group has appointed a banker from Santander to lead its sector coverage for the technology, media and telecommunications (TMT) industries in Europe, the Middle East and Africa.

The buyout loan backing Advent’s acquisition of Evonik’s methacrylates business has struggled in the first round of syndication, with leads increasing the OID and targeting the wide end of guidance.