Loans and High Yield
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Unilever, Eversholt Rail and Grand City Properties have all defied the season this week to bring corporate bond issues, and been rewarded with strong demand. -
Sri Lanka has reached its target of $1bn from a three year syndicated loan that was launched at $450m, after demand poured in from Indian lenders.
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Bain Capital’s Diamond, the cleaning chemicals business, had to remove a controversial restricted payment clause before printing the triple-C rated bonds of its new financial structure on Tuesday.
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Bankers speaking to GlobalCapital seemed unable to make up their minds about how the second half of the year will play out in the European high yield market. But they agreed that deals in the works for September will bring little challenge for investors.
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Rotterdam-headquartered drinks bottle maker Refresco is set to issue over €2bn-equivalent of loans following its $1.25bn acquisition of US drinks firm Cott’s bottling business.
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First-time issuers China Chengtong Holdings Group and China Logistics Property Holdings Co are preparing for their dollar fundraisings, tapping banks to lead their respective offerings.
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Cairn India Holdings has signed new lenders into a $651m loan that had been in general syndication since late May.
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Continuum Wind Energy’s subsidiary Continuum Energy Levanter is selling a senior 144A/Reg S bond on Tuesday, adding variety to a busy primary debt market.
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China Development Bank Financial Leasing Co is back with its second dollar bond, following its international debut in November 2014. Financial leasing firm Lionbridge Capital Co is also looking to price its debut deal on Tuesday.
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Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN) is back in the loan market with a $155m 360-day deal to refinance debt and for general working capital.
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Indonesia’s ABM Investama began marketing its inaugural dollar bond on Tuesday morning, opting for a 144A deal to reach US investors as well.
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Chinese mobile phone maker Xiaomi has allotted its $1bn loan, fully exercising a $250m greenshoe option on the back of strong demand.
