Loans and High Yield

Chinese companies Tianqi Lithium Corp and Yankuang Group Company have set the stage for their offshore transactions, with both hitting the road this week. Qingdao Hengshun Zhongsheng Group Co, meanwhile, has received the green light from regulators for an up to $200m bond.

Fixed-line telecom operator WTT HK, known as Wharf T&T until recently, is taking bids for a five non call three year bond on Tuesday after drumming up interest through a global roadshow.

After a long rally in US high yield credit, concerns over tax reform, weak earnings and merger struggles sparked a $2bn outflow from funds tracking the sector last week. Two energy issuers pulled deals during the week, but that did not stop three energy issuers stepping back into the market on Monday.

Borrowers repricing and refinancing their debt are taking an ever bigger share of overall issuance in European leveraged finance markets. This week, Salt Mobile and Gates added to the already large list of names taking advantage of borrower-friendly conditions.

A rush of consolidation has swept through Europe’s payments processing industry in the past six months and the financing for two of the deals, the acquisitions of Nets and Paysafe, hit the leveraged finance market this week.

Dalian Wanda Commercial Properties (DWCP) has chalked up a three-pronged plan to address problems related to one of its offshore borrowings. The deal was in danger of being accelerated after the company was downgraded by two credit rating agencies in September.

Anton Oilfield Services Group is making a dollar bond market comeback, offering a new deal in exchange for its existing 2018 bonds.

WuHan DangDai Science & Technology Industries (Group) Co is marketing its inaugural international bond. Separately, Xinyuan Real Estate Co is meeting investors this week for its second dollar bond of the year.

Indonesian palm oil producer Sawit Sumbermas Sarana (SSMS) launched its dollar debut on Monday morning local time.

Chinese real estate developers China South City Holdings (CSC) and Guangzhou R&F Properties Co are wooing buy-side accounts on Monday for new dollar bond offerings.

UK telecoms firm Virgin Media increased its sterling loan offering on Friday, as recovering leveraged finance issuance in the currency seems to be leaving Brexit strains behind.

Hong Kong Airlines, which last visited the international syndicated loan market in 2015, is working with a bank to refinance that facility.