Loans and High Yield

Four banks have launched a $150m two tranche senior secured loan for Indonesian textile company Delta Dunia Tekstil (DDT). The company will use a portion of the funds for a new project in Java, Indonesia.

Wind Tre, the Italian telecoms company, issued its €7.3bn senior secured bond deal on Tuesday, a day ahead of schedule, and priced all four tranches at the tight end of guidance.

A new bond refinancing deal for German fashion company Takko will provide a welcome boost to triple-C bond volumes, although it is not clear whether the deal will pave the way for a wave of risky credits to return to the high yield market, bankers said.

Investors flocked to Press Metal Aluminium Holdings’ inaugural dollar bond sale on Monday, allowing the issuer to walk away with a tightly priced deal nearly 10 times subscribed.

China Huaneng Group, one of the country’s biggest state-owned electric utility enterprises, priced a $500m senior perpetual bond on Monday. Execution was smooth thanks to the company’s status as a central state-owned enterprise (SOE) and its market position, but time is needed for it to perform in secondary.

Första AP-Fonden (AP1) has become the latest institutional investor to look beyond Europe for returns in the corporate high yield bond market, with Hermes set to manage its new global high yield fund.

Southeast Asian issuers have been largely absent from a bumper crop of dollar bond supply in the region over the last few weeks. But Malaysian aluminum producer Press Metal Aluminium Holdings is planning to add a bit of spice to the market, after opening books for its debut on Monday.

Chinese state-owned power company China Huaneng Group opened the week with a senior perpetual bond following an Asian roadshow that took place last week.

The Indian operators of Hyderabad Airport pulled off the tightest high yield dollar corporate bond ever sold in India on Thursday, despite the Diwali public holiday.

Nasdaq-listed China XD Plastics Co is in the loan market for a $300m financing, returning one year after signing its last deal.

A slew of new dollar deals hit the debt market on Thursday, with all of them easily gobbled up by investors.

Big ticket European take-privates are back, evoking memories of the last buy-out boom, writes David Rothnie. Will it be different this time?