Loans and High Yield

Ho Chi Minh City Development Joint Stock Commercial Bank has closed its debut offshore borrowing at $71m.

LondonMetric, the UK real estate investment trust, is marketing a private placement deal, according to market sources.

EG Group leant on private markets to raise cash for its purchase of the forecourts business of UK supermarket Asda and a chain of German petrol stations from OMV. The group is raising first and second lien loans, and, on February 26, privately placed a £675m Reg S-only bond.

Taiwanese semiconductor distribution company WT Microelectronics is plotting a return to the loan market after an absence of almost eight years. Bankers say more companies from the sector are likely to turn to loans in 2021 as strong growth in the industry propels opportunistic fundraising. Pan Yue reports.

Real Estate Investors, a UK commercial property REIT, has refinanced £51m of term loans, as the real estate sector continues to be one of the main drivers of European debt activity.

A significant widening of China South City Holdings’ dollar bonds issued in January forced the company to offer a juicier yield for its return to the international market this week.

Goldman Sachs has launched the loan backing Bain Capital’s take-private of Ahlstrom-Munksjö into general syndication, looking to sell euro and dollar tranches over the next two weeks, and is likely to follow the loan launch with a secured bond in the coming days.

A bout of volatility in US Treasury rates has slowed down primary bond flow in Asia and forced borrowers to pay up for their deals. While the turbulence has kept issuers at bay, it will offer a much-needed reset for the region’s bond market.

China’s Huadong Medicine Co has turned to the loan market for the first time.

Dr Peng Telecom & Media Group Co has extended the maturity of its dollar bond until December 2022.

Indonesian motor vehicle financing company Indomobil Finance Indonesia is sounding out the market for a loan return. It has opted for a club deal this time around.

Singapore real estate company United Industrial Corp has raised a $300m loan comprising both green and sustainability-linked tranches, adding further momentum to the nascent asset class in Asia.