Loans and High Yield

Salini Impregilo, the Italian construction firm, printed new bonds with a coupon under 2% on Thursday, becoming only the third high yield borrower to duck under the hurdle this year.

Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

Swiss boutique investment fund Fisch Asset Management,has hired a new senior credit analyst for its high yield desk by raiding Barings.

China Grand Automative Services Co, a car dealership, is readying a return to the international debt market, hiring two banks for a senior perpetual bond.

Zhongrong Xinda Group Co and Jiangsu Nantong Sanjian Construction Group Co (JNTC) are set to make their debuts in the international bond market on Thursday, as Tongchuangjiuding Investment Management Group Co returns for a tap.

The operator of Hyderabad’s international airport launched its debut dollar bond on Thursday morning, following a global roadshow last week.

The non-US women's health unit of Israel’s Teva Pharmaceutical Industries is mulling the option of issuing its first term loans in euros to fund its buyout by private equity firm CVC.

Italian telecoms firm Wind called on the high yield market on Wednesday, as it planned to refinance most of its debt with a dual currency five tranche offering, deploying 20 bookrunners in the process.

French car hire group Europcar opened the high yield bond primary market on Monday with new debt to fund the acquisition of Spanish peer Goldcar, demonstrating how little investors are worrying about the escalating crisis between Catalonia and Spain over the former's push for independence.

Seven of the eight benchmark investment grade corporate bonds to have been priced in euros in the last fortnight have been from utilities. And longer dated utility bonds were also among the best performers in the third quarter.

Four Chinese corporations priced a total of $1.175bn of bonds on Tuesday, the day before the start of the Communist Party’s five-yearly congress.

There has been a change in leadership of the loan syndications department at China Minsheng Bank in Hong Kong, according to sources close to the matter.