Loans and High Yield
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Future Land Development Holdings is hunting for $350m from a new three year note launched on Thursday morning, with pricing tightened aggressively at the end of the day. -
Russian aluminium producer Rusal has registered a prospectus on the Shanghai Stock Exchange for a Rmb10bn ($1.5bn) seven year Panda bond programme, the company said on Wednesday.
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The offshore renminbi market is set for another year of pain with new issuance predicted to fall by as much as 30% in 2017, according to HSBC’s February dim sum tracker report.
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Silgan Holdings, a maker of consumer goods packaging in the US, this week priced the first cross-border high yield deal of 2017 as it plans to repay term loans.
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Stone Canyon Industries, the US investment firm, has agreed to buy Mauser for $2.3bn after the German packaging supplier forewent a proposed initial public offering.
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UK telecoms Virgin Media offered bondholders to exchange its 5.5% 2021 sterling bonds for new notes that increase coupons and maturities, but do away with restrictive covenants.
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French bottle maker Verallia served on Wednesday an updated version of the offering it had to pull in October, when its shareholder Apollo disagreed over the terms with investors. The deal is now smaller, and the issuer less leveraged.
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Pricing in the European leveraged loan market is “in freefall”, according to one head of leveraged finance.
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Indonesia’s Pakuwon Jati was back in the international market on Wednesday after a nearly three year hiatus, looking to grab enough funds to redeem its existing 2019s.
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China Singyes Solar Technologies Holdings has become the latest energy name to venture out to the Asian debt market, taking bids for its debut dollar bond on Wednesday.
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The Business Growth Fund has teamed up with First Derivatives to invest in early stage technology companies in the UK, a sector the country's chancellor cited in the autumn budget as requiring extra funding.
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Two weeks after printing €250m of triple-C rated notes, container shipping company Hapag-Lloyd on Tuesday sailed into the market for an add-on.
