Loans and High Yield
-
The once-distressed Gajah Tunggal raised $250m from a new five non-call three deal on Thursday, helping the company prepare to refinance a looming maturity – and potentially earn a ratings upgrade. -
LendInvest, a UK short term property loan platform, issued a £50m five year bond this week, taking new listings on London Stock Exchange’s Order book for Retail Bonds (ORB) to more than 2016s total — its first year-on-year growth since 2012.
-
Deutsche Bank is arranging an up to $150m syndication for water purification company Ozner Water International Holding, said bankers.
-
Indonesian power producer Paiton Energy added a hefty $2bn to its coffers on Thursday, selling a dual-tranche bond that won over investors because of its diversity benefits and secured structure.
-
China Huiyuan Juice Group is preparing for its debut in the dollar debt market, after hiring BOC International as the sole lead for the transaction.
-
Deals in the leveraged finance market have grown increasingly aggressive in recent weeks, as a strong run of buyouts has seen leverage levels ramp up. Some in the market have identified the European Central Bank’s leveraged lending guidelines, due to come into effect in November, as fuelling the fire. Max Bower reports.
-
Lima Corporate, the Italian maker of orthopaedic implants, kept the euro high yield new issue market in motion with a floating rate bond deal, which, unusually, will be used to refinance the loans that funded its buyout by EQT from Ardian.
-
-
Danish ferry operator Scandlines has refinanced all its debt with BBB rated bank loans and notes in the European and US private placement markets.
-
China Chengtong Holdings Group priced its inaugural $500m bond on Tuesday, hitting the market as it transitions under a pilot programme for state-owned enterprises. Investors debated fair value for an unrated credit that is somewhere between a corporate and a financial, reports Morgan Davis.
-
LVGEM (China) Real Estate Investment Company is preparing its first international bond, mandating eight banks to work on the transaction.
-
Sunac China Holdings raised $1bn on Wednesday from a dual-tranche bond, despite a lot of market talk about the company this year. Bankers said the deal's success showed investors’ confidence in the company, but analysts argued the issuer left enough on the table to get demand.
