Loans and High Yield

CSI Properties printed a $200m bond on Wednesday for refinancing purposes. The leads were not short on comparables given that several of the issuer’s developer peers have sealed similar transactions so far in 2017.

Tobam, the Paris-based asset manager, has appointed Frédéric Jamet as head of trading and co-head of research. He had been an investment adviser at State Street for 11 years.

Wednesday morning brought three new corporate bond deals, to add to the six already priced this week. Investors are being offered a diverse group of credits, and their appetite has yet to be sated.

Sino-Ocean Group Holdings leveraged on its stronger sales performance and credit metrics to storm into the debt market on Tuesday, showing that it has put a short but tumultuous period behind it.

CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

Wynn Macau, a unit of casino giant Wynn Resorts, announced a two-tranche bond on Wednesday, part of a $1.35bn outing to redeem its outstanding 2021s.

Japanese telecoms company SoftBank has done it again. On Tuesday, it replicated its 2015 success of a €4.5bn bond issued outside of the US high yield market with a new €4.75bn issue.

Lion Capital, the consumer specialist private equity firm, has funded the acquisition of a controlling stake in sports nutrition brand Grenade with a credit facility from EQT.

Moody’s Investors Service has appointed Vishal Damani as head of US intermediaries in its relationship management team, a newly created position. Damani had a similar role at Fitch Ratings.

Synlab, the French clinical services provider, achieved tight pricing on Tuesday for its leveraged loan. That bodes well for a September deal pipeline that has swelled to over €5bn. But bankers cautioned small deals may still have to fight for investor attention against large offerings like Stada’s €2bn loan.

Syndicated loan activity in Asia ex-Japan may have slumped this year, but the slowdown is not all bad. The numbers show a return to normalcy in the region following an unusually stellar year of business in 2016, according to speakers at a loan market conference last week.

HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.