Loans and High Yield
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Chinese developer Fantasia Holdings Group Co wrapped up an unrated short-term note on Tuesday, snapping up $350m for refinancing. Bonds with maturities of less than a year are increasingly being considered by Mainland issuers, given the barriers in getting regulatory approval to go offshore for fundraising. -
Chinese property developer Kaisa Group Holdings is looking to launch an exchange offer, swapping a series of variable rate senior bonds for new fixed rate notes.
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Deutsche Bank has made changes to its Asia loan syndications team, promoting Birendra Baid to head up the division, succeeding Amit Khattar who is taking up a broader role.
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State-owned Power Construction Corporation of China and Sinochem-backed Far East Horizon are in the market with dollar-denominated perpetuals, while Tunghsu Group is making its international debut with a three year.
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French nursing home operator Colisée launched a €330m seven year term loan ‘B’ this week, backing IK Investment Partners’ buyout of the firm. Faerch Plast, the Danish food packager, meanwhile, has added further to the buyout pipeline.
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Insurance broker Towergate priced its £800m high yield bond to finance its merger with four UK peers, resulting in a new company called Kirs. The deal follows a string of successful high yield sterling issues but faced pre-election jitters.
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Korean Air Lines Co has sealed its first dollar note on a standalone basis, and the first high yield bond from the country since 2013, following a pulled deal last September. The $300m transaction was also a coup for BOC International, which became the first Chinese firm to act as the sole lead on a Korean offering.
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South Korea’s GS Caltex Corp bagged a $400m five year deal on Monday, securing buy-side support thanks to its credentials, despite a soft market backdrop.
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Chinese developer Fantasia Holdings Group Co is in the market on Tuesday with an unrated short-term dollar note for refinancing purposes.
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Blackstone has agreed to buy Finnish property group Sponda for nearly €1.8bn in an all-cash deal
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Packaging maker Ardagh Group will repay its 2021 dollar floater with a £400m sterling bond printed on Friday, following heavy oversubscriptions of recent sterling deals.
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German transformer maker SGB-SMIT launched €590m of loans at a lender meeting on Tuesday, backing One Equity Partners’ buyout of the firm from BC Partners.
