Loans and High Yield

Loomis Sayles’ senior loan portfolio manager Kevin Perry will retire in March 2019 after 17 years with the company and 37 years in the industry, the firm said on Tuesday.

Investment manager Michael Scott will join Man GLG in December from Schroders, where he was responsible for three funds active in the high yield market.

MCS Groupe opened a roadshow for a new 2024 floating rate bond this week, as it seeks funding for the acquisition of DSO Group to create a leading player in the debt repurchase industry in France.

China’s O-film Tech is tapping offshore lenders for the first time for a $100m term loan, hitting the market amid escalating tensions between the US and China.

HSBC Securities Services has appointed two global co-heads — one of them a well-known figure in the debt capital markets.

Garrett Motion began to market euro bond funding for its separation from Honeywell this week, as high yield investors close on some of the largest deals seen so far this year.

Assets allocated to US exchange traded products and funds hit a record high in August, after assets left the space when volatility returned to US markets in February.

Chinese local government financing vehicles are under immense pressure, with the ratings of 11 LGFVs downgraded last week. But the focus for now is on the upcoming redemption of Qinghai Provincial Investment Group’s $300m bond next week — key to investor confidence in the sector.

French polling and market research firm Ipsos issued its first public corporate bond on Friday, following an investor update, but the responses the company received on the call were inconclusive.

Strong demand from bank lenders has allowed Health and Happiness International Holdings to bump up the size of its dual-currency loan to $450m-equivalent.

Chinese property company Sichuan Languang Development Co has added $250m to its coffers from a two year bond that offered one of the juiciest yields for an Asian deal this year.

Fortune Oil PRC Holdings has boosted its borrowing to $430m after attracting 10 participants during syndication.