Loans and High Yield
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Papua New Guinea is set to make its offshore syndicated loan debut with a $200m five year facility. Arranger Credit Suisse is holding discussions to expand the top group, according to a source. -
Fosun International successfully priced a tap of its existing 2023s on Wednesday, paying a premium to the outstanding deal in line with new market conditions.
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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.
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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.
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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.
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US companies have led a charge into the euro bond market this week, as the predicted slug of issuance after the presidential election arrived.
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China Aluminum International Engineering Corp (Chalieco) and Ping An Real Estate are conducting roadshows this week to test investor interest for new dollar offerings.
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China’s Yancheng Oriental Investment & Development Group Co priced its maiden dollar-denominated offering on Tuesday off strong anchor orders post roadshow.
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Therma Power, part of Philippine company Aboitiz Power Corp, is accessing the offshore loan market for a $650m unsecured financing.
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Credit Suisse has allocated a three year bullet loan for China Auto Rental (CAR), with the company raking in $250m after general syndication.
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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.
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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.
