Loans and High Yield

Zhuhai Huafa Group Co on Thursday morning opened books for its debut dollar-denominated offering. Howver, the company is no stranger to offshore markets as it has previously sold a dim sum bond.

Pattern Energy Group is planning to print its first corporate bond this week with a $350m high yield offering that will primarily finance acquisitions of wind power projects from its developer-sponsor, Pattern Development.

JP Morgan Asset Management on Wednesday launched its Europe High Yield Short Duration Bond Fund for investors seeking protection against future interest rate hikes.

Xella, the German building materials maker, held a bank meeting on Thursday morning in London for the first large buyout of the year so far, as it markets €1.3bn of loans backing its buyout by US private equity house Lone Star.

UK cable and mobile operator Virgin Media on Wednesday plugged its refinancing bond offering into the sterling market on Wednesday, raising total potential sterling high yield bond sales to near £1.7bn so far this year.

3i has hired ING’s co-head of technology, media and telecoms mergers and acquisitions in a raft of additions to its private equity practice around the world.

Agrokor, a Croatian retail, food and agriculture company, has abandoned its syndication of a three year term loan complaining of unfavourable terms.

Every shade of corporate bond has been able to find a home with euro investors this week, despite investors’ mutterings about overly zealous spread tightening and continued scepticism about the long end.

Sri Lanka has invited feedback from banks for a $1bn sovereign loan, with two bank groups said to be competing for the deal.

Hong Kong's United Photovoltaics and Chinese issuers Reward Science and Technology Industry Group Co, Beijing Capital Group and Yuzhou Properties Company all launched new dollar transactions Wednesday amid a flurry of pre-holiday issuance.

Credit Suisse has named two bankers co-heads of global leveraged finance.

Paper packaging maker Smurfit Kappa launched a drive by benchmark euro offering on Tuesday, as it looks to refinance existing securitisation facilities.