Loans and High Yield

US private equity firms keep an eye on European deals, but their doubts over the eurozone’s future become a deterrent at times. Now that Germany and France are signalling a zealous commitment to the European project, the chance is ripe to regain their trust.

Medco Energi Internasional, which issued a dollar bond last week, has returned to the debt market for a reserve based lending (RBL) facility for subsidiary Medco E&P Malaka.

Hong Kong’s Wing Tai Properties is looking for a Singapore dollar denominated bond, its first debt transaction in three years.

China’s Cifi Holdings is taking orders for a perpetual non call five year bond on Tuesday, returning to the public dollar debt market after more than two years.

Trinseo, a US manufacturer of plastics, latex binders and synthetic rubber, opened investor calls on Monday for a new unsecured bond, as it plans to repay all of its bonds due in 2022.

Bain Capital and Cinven’s second attempt for German pharmaceuticals manufacturer Stada could meet the same fate as their last one later this week with shareholders tendering around a third of the firm’s shares, leaving only until midnight on Wednesday for the 63% threshold to be reached.

Private equity firms have deployed their direct lending arms in three UK mid-sized deals in the past week, just as public market bankers begin to fret about the effects of Brexit on the sterling market.

Cambodia's Advanced Bank of Asia (ABA Bank) has tied up a $50m borrowing with Taiwanese lenders, taking double the amount raised in its international loan debut last year.

21Vianet Group, China Huiyuan Juice Group and Greenland Holding Group managed to steer their dollar outings in the right direction on Thursday, defying any concerns among investors to get their deals past the finish line.

Indonesia’s Medco Energi Internasional braved a rocky market to grab $300m on Thursday, deciding to go ahead with its issuance on expectations of worse conditions further ahead.

India's Vedanta Resources is talking to banks about a $300m borrowing for its mining operations in South Africa, setting the wheels in motion for its third international loan of the year.

The European high yield bond market will enter the second half of the year in extraordinary shape, with average coupons at all-time lows and a surge of issuance. Can it get any better? Bankers and investors think not.