Loans and High Yield

Bank of the Lao PDR has closed its four year borrowing led by Cathay United Bank, receiving commitments from 14 participants.

Chinese developer Guorui Properties is on track to redeem a puttable dollar bond later this month after pricing a new $295m transaction, bringing an end to debt refinancing woes that have lasting for months.

China’s industrial gas supplier Yingde Gases Group has launched a $300m borrowing into general syndication.

Fosun International has returned to the offshore loan market with a $300m dual-currency borrowing.

Sappi, the South African paper company, succeeded in issuing its €450m seven year non-call three year bond on Tuesday at a coupon that will save it money, compared with the bond it is replacing.

Private equity firm Platinum Equity is about to close the senior syndication for a $165m borrowing to support its acquisition of Singapore’s PCI.

Asia’s primary bond market has started the year with a bang. New dollar issuance has been steady, and issuers are getting increasingly confident in their ability to court investors with what can only be considered bull market deals. But the market isn’t strong enough to allow issuers to get away with such aggressive terms for long.

High yield bond issuance in Europe is perking up, with several deals being marketed or just about to be launched. Beginning its roadshow on Monday was Sappi, the South African paper company, which wants to issue €450m to replace an older bond; starting on Tuesday is French car parts group Faurecia, seeking €500m.

Tesla has raised the equivalent of $521m from the loan market, helping fund its Shanghai factory.

Peking University Founder Group Co priced a $200m bond tap on Friday, getting ahead of a disappointing non-farm payroll report..

GlobalCapital today launches its poll to decide its Bond Awards - the premier accolades for issuers, banks and other participants in the international bond markets, which are decided entirely by market opinion. We invite you to vote to choose the bond issuers, investment banks, investors and other market participants that have contributed most impressively to the market during the past year.

Indonesia's Mitra Pinasthika Mustika Finance has returned to the international loan market, seeking a dual-currency $200m borrowing.