Loans and High Yield

Unrated CEFC China Energy Company and China Energy Reserve and Chemicals Group are wooing investors for their respective dollar-denominated notes, with the former making its debut and the latter returning for a second time this year.

French health care group Elsan, owned by private equity firm CVC, is buying out peer MédiPôle Partenaires from Bridgepoint in an operation that will take out bond debt with loans.

MRH, the largest independent petrol retailer in the UK, and Swiss telecoms firm UPC had bank meetings on Thursday for loan refinancings, while new money deals have also joined the market.

US companies have led a charge into the euro bond market this week, as the predicted slug of issuance after the presidential election arrived.

China Aluminum International Engineering Corp (Chalieco) and Ping An Real Estate are conducting roadshows this week to test investor interest for new dollar offerings.

China’s Yancheng Oriental Investment & Development Group Co priced its maiden dollar-denominated offering on Tuesday off strong anchor orders post roadshow.

Therma Power, part of Philippine company Aboitiz Power Corp, is accessing the offshore loan market for a $650m unsecured financing.

Credit Suisse has allocated a three year bullet loan for China Auto Rental (CAR), with the company raking in $250m after general syndication.

Country Garden Holdings launched a 10 put five dollar deal on Wednesday, marking its second transaction in less than two months, while Fosun International is pursuing a tap of its $300m 2023s.

Swedish speciality chemicals group Perstorp priced €1bn-equivalent of high yield bonds on Tuesday, grabbing the attention of investors with triple-C paper against an uncertain backdrop.

Fixed income specialist SC Lowy, the investment bank based in Hong Kong, has appointed Peter Chung as a senior trader in Europe.

The leveraged finance market has been met this week by raft of mergers and acquisitions, with four deals announced and several major leveraged buyouts poised for action.