Loans and High Yield
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Chinese state-owned Shandong Energy Group Co sealed a popular $300m three year debut on Wednesday off the back of a $3.2bn book, thanks to its strong government support and the attractive yield on offer. -
US cleaning products maker Diversey has accelerated commitments on its €1.6bn-equivalent of loans, backing Bain Capital’s $3.2bn carve-out of the business from Sealed Air, despite one investor in London expressing concern over the deal’s leverage.
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Waste-to-energy firm China Jinjiang Environment Holding Company (CJE) kicked off its debut dollar offering on Thursday morning.
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Oceanwide Holdings Co returned to the offshore market on Thursday with a new three year dollar offering, just a week after selling a $200m 363-day bond.
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Bain Capital is calling on the recent demand for lower rated high yield bonds in Europe to fund the acquisition of US cleaning products supplier Diversey Care.
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BC Partners has agreed to buy German cloud technology firm PlusServer from US internet group GoDaddy, mandating Société Générale with an all senior loan package due in early September.
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UK health retailer Holland & Barrett has launched £900m-equivalent of loans backing its £1.77bn buyout by L1 Retail, the consumer focused arm of holding company LetterOne, founded by Russian billionaire Mikhail Fridman.
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In what bankers expect to be the last big week for corporate bond issuance in Europe before the summer, demand for deals — especially triple-B paper — is rampant.
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Any debt bankers hoping for an early summer lull were left sorely disappointed on Tuesday, as a slew of Chinese issuers ensured a breakneck pace of issuance.
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Standard Chartered has beefed up its loan syndications team in Hong Kong, hiring two bankers, according to sources.
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Chinese state-owned Shandong Energy Group Co is taking orders for its inaugural international bond, while property developer Gemdale Corp is also in the market for a new debt outing.
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A managing director in Barclays’ leveraged finance team has left for Goldman Sachs, joining the bank’s London office.
