Loans and High Yield

Biostime International ventured out to the debt market on Monday with a tap of its outstanding five year bonds. Thanks to strong momentum, the issuer decided to raise $200m instead of the initial target of $150m.

Shui On Land secured a $500m four year bullet on Monday from an order book more than six times subscribed, showing the continued interest from investors in Chinese property names for the right price.

Fujian Zhanglong Group Co is tapping its three year notes sold at the end of 2016, taking advantage of one of the last issuance windows before the Lunar New Year.

Neerg Energy is set to become the second Indian corporate to sell a dollar green bond, having hired six firms to arrange meetings with global accounts on Tuesday.

Metals and mining company Vedanta Resources jumped back into the international market on Tuesday with a 5.5 year transaction, hoping to secure a dollar deal before markets become quiet for the Chinese New Year holidays.

ANZ has moved an executive director to the position of acting head of its loan syndications operation in Australia, as the incumbent steps into a new role.

Sky Bet, the UK gaming company owned by private equity firm CVC, has informed investors that it is planning to cut margins on its existing term loan.

Discount retailer B&M will launch on Tuesday its £250m debut high yield bond in a so far ‘hard Brexit’-proof sterling market — but some investors are already warning about a potential glut of supply.

Sinosteel International Holding has approached the loan market for a $120m two year deal. The money is to refinance a loan from 2014, which falls due next month.

Hong Kong Airlines was among the many borrowers that squeezed through a narrow issuance window last week before Chinese New Year. Its first senior perpetual, which has been sometime in the making, soared with strong private bank demand.

Chinese companies Shui On Land and Biostime International are looking to raise funds from the dollar debt market, launching their respective deals on Monday morning.

The European high yield bond market priced on Friday its third deal listing on the Channel Islands this year, a £425m bond to finance NewDay’s acquisition by Cinven and CVC.