Loans and High Yield

JP Morgan has appointed a new managing director in its EMEA leveraged finance capital markets team, following the departure of two senior members in the last month.

Property developer Hong Yang Group Company is marketing its inaugural international bond, while Chinese private telecommunications operator Dr Peng Telecom & Media Group Co is set to hold a conference call with investors on Tuesday for a dollar deal.

ANZ has named Gavin Chappell as the head of loan syndications for Australia, poaching him from Westpac.

Avaloq, a Swiss fintech firm, has launched Sfr410m-equivalent of loan facilities, backing Warburg Pincus’s 35% investment in it, which values it at over Sfr1bn.

Burford Capital, the company that finances litigation, raised £175m with a bond issue on the London Stock Exchange’s Orderbook for Retail Bonds on Friday – one of the biggest deals since 2012.

After three years away, UK producer of grocery and sweets Premier Foods returned to the bond market with a £210m fiver year non-call one floater to join 2017’s sterling issuance comeback.

Transportation Partners and China National Chemical Corp will meet fixed income accounts for their respective dollar bonds, while names like Poly Culture Group Corp, Macrolink Culturaltainment Development Co, Oceanwide Holdings Co and Jiangxi Ganfeng Lithium Co are planning to go offshore.

Chinese mobile phone maker Xiaomi, which sounded out lenders to refinance a syndicated loan raised in 2014, has sent out terms for the new facility to retail banks.

Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

Several notable event-driven new money leveraged loans are set to come to market next month, but for now there is only a steady flow of repricings and small incremental deals.

CVC-owned German retailer Douglas has agreed to buy Limoni and La Gardenia Beauty, two Italian beauty and perfume firms from sponsor Orlando Management. It said on Thursday that it may issue new a term loan to fund the deal, joining a list of mid-cap firms with similar plans.

US cloud and physical data manager Iron Mountain’s €300m deal proved European investors can give US IT company debt a chance despite some troubled recent deals.