Loans and High Yield
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Aditya Birla Group unit Novelis wound up a $1.8bn Asian refinancing of its US term loan B at the end of March, with eight banks joining during general syndication. -
Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.
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Regal Hotels International Holdings locked in $225m on Thursday from a fixed-for-life perpetual non call five on the back of over $1bn of demand at its peak. While the issuer timed its deal well, it was not everyone’s cup of tea, said bankers.
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Indonesian developer Modernland Realty closed a modest $240m deal on Thursday, against a weaker market backdrop in Asia.
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CT Corp company Trans Retail Indonesia has allocated its $575m borrowing among a group of 36 lenders.
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Yanzhou Coal Mining Company saw a very different outcome to its perpetual bond this week, managing to price through its theoretical fair value. In comparison, the borrower paid up three years ago for its last perp outing.
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Brazilian energy company Petrobras has kicked off global syndication for a $1bn facility, which it is borrowing through its overseas arm Petrobras Netherlands.
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Citi has hired Shawn Borisoff into its global asset managers group, one of the final pieces in its long-running build out in sponsors coverage and leveraged finance. GlobalCapital understands the bank is still looking to hire for M&A and advisory, but Borisoff represents the final piece of the sponsors build-out.
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After a glut of provincial supply, investors were treated to a debut Argentine corporate this week, as three other Latin American corporates brought deals.
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Saudi Arabia will begin meeting investors for its debut international sukuk on Sunday. The deal is a long time coming, according to those keen to see the development of the Islamic finance market.
