Loans and High Yield

KWG Property Holding raised $300m from a seven year non-call four bond on Tuesday, managing to pay a zero to negative new issue premium despite hitting the dollar market for the fourth time in 2017.

Indonesian industrial estate developer Kawasan Industri Jababeka has returned to the market to tap its existing 6.5% 2023s.

Redco Properties Group has jumped on the short-dated bond trend, launching a 364-day dollar deal on Wednesday.

The loan funding for CDPQ and Ardian’s acquisition of a stake in Alvest, the unrated French manufacturer of aeroplane parts, was allocated among a "limited" number of investors on Tuesday, amid growing demand for small and mid-sized credits.

In a new sign of how hot Europe's leveraged finance market has become, Verisure, the Swedish security systems company, is seeking to raise €3.5bn of bonds and loans, partly to fund the market's biggest dividend recapitalisation this year.

Hong Kong-based Far East Consortium International (FEC) and Chinese securities house Guotai Junan International Holdings both sold unrated bonds on Monday. While neither issuer saw overwhelming demand, they still managed to walk away with their desired $150m and $300m, respectively.

China’s regulators have left DCM bankers, issuers and investors befuddled this year, as they struggle to understand which companies will gain approval to issue offshore bonds and which will be rejected. In this environment it was only natural that sub-one year bonds, which don’t need approval, should become very popular, but a recent deal shows using the loophole comes at a cost.

Hong Kong’s fixed-line telecom operator WTT HK, better known as Wharf T&T, has mandated banks for a 144A/Reg S dollar deal, with a global roadshow kicking off in Hong Kong on Tuesday.

Chinese local government financing vehicle Yunnan Provincial Energy Investment Group Co and real estate developer KWG Property Holding are taking bids for their respective dollar bonds on Tuesday.

China Eastern Airlines Corp launched its maiden Singapore dollar bond on Tuesday morning local time, marking the first time the company is venturing offshore.

UK telecoms group Virgin Media will begin marketing a jumbo loan this week, in a market that bankers describe as awash with demand. Many issuers are returning in search of tighter margins as soon as their loan terms allow.

Justin Crane, head of loan syndicate and distribution at Standard Chartered, is set to leave the bank at the end of this month, sources said.