Loans and High Yield
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Ernst & Young has appointed a head of global private equity to replace Jeffrey Bunder, who has moved to a US private equity firm. -
European corporate bond issues are coming thick and fast. Participants who predicted this week would be busy have been proved right, with 12 deals pushed into the euro, sterling and Eurodollar markets so far.
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New World Development Company, via its wholly-owned subsidiary New World China Land, sold a $600m 10 year bond on Tuesday, the first time it had opted for such a long tenor, according to bankers.
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A growing number of European high yield bonds are being listed on the Channel Islands Securities Exchange to avoid onerous EU regulations. But borrowers should avoid too many visits to the offshore haven for the good of their market.
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Everyone in debt capital markets has heard of green bonds, and most in the financial world accept that sustainability and greenness are Good Things. But for all the grand commitments and PR initiatives, understanding of the issues is still as hazy as a Beijing smog.
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After spending 2016 away from the high yield market, UK premium car maker Jaguar Land Rover returned on Tuesday to add euros to its all sterling and dollar debt.
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Primary activity in the European leveraged loans market is off to a stuttering start this year, with only a few small deals launched and larger borrowers either yet to appear or set to forego the market.
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Pakistan International Airlines (PIA) has tied up funds totalling $130m via a syndicated loan facility.
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CT Corp company Trans Retail, which had been in discussions with banks for a fresh financing since late last year, is on the verge of signing the deal.
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Property developer China Jinmao Holdings Group is marketing a dollar-denominated subordinated bond — its first hybrid offering.
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Indian oil producer Bharat PetroResources (BPRL) and Hong Kong’s New World Development Company have announced their respective bond offerings after wrapping up roadshows on Monday.
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Tikehau Capital, the asset manager, is seeking a listing on Euronext Paris via a tender offer for the shares and convertible bonds of its listed subsidiary Salvepar.
