Loans and High Yield

Solar energy generator Sonnedix has signed a €250m bank facility, as it looks to snap up new projects in OECD countries.

China’s Tianshan Aluminium is tapping the offshore loan market for $200m.

Chinese laminating filmmaker Kangde Xin Composite Material Group skipped a coupon on its dollar bond on Monday but the missing payment seemed barely to register with market participants.

Mongolian Mining Corp announced on Monday March 18 a tender offer for its two existing dollar bonds, alongside the proposed issuance of new notes.

Interserve, one of the largest outsourcing companies in the UK, plans to file for administration after shareholders rejected a proposed debt for equity swap at a general meeting on Friday.

Taishin Financial Leasing (China) is about to close its debut offshore loan at $100m. It is now just waiting for one of the lenders to get approval.

Chinese property company Fujian Yango Group Co raised $150m from a quick 1.5 year bond sale on Thursday, after a rocky start to the year.

European high yield investors are as eager to buy bonds as their investment grade counterparts — the difference is, while IG issuers have been pouring paper into the market, high yield has been in a drought. But that is at last starting to break.

UK department store Debenhams is considering a £150m loan offer from its potential acquirer Sports Direct, in a deal that could bypass lending banks and see leadership of the company fall to Mike Ashley.

The bullish mood in credit markets is sweeping through high yield bonds, enabling issuers, like their investment grade counterparts, to crank pricing several notches tighter during bookbuilds.

French nuclear firm Orano has increased the size of its syndicated loan and added another lender to its banking group, as some loans officials said that only names further down the credit curve are growing the number of lenders they use.

Corporate debt markets are behaving as if Brexit didn’t exist. Issuers are swimming in demand that astonishes seasoned observers — and market participants, though they may be scratching their heads in puzzlement at the UK’s erratic career, are unanimous that business can go full steam ahead.