Loans and High Yield
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Schaeffler Verwaltung Zwei, a holding company which owns 75% of bearings manufacturer Schaeffler, has signed a €800m credit agreement with four banks as part of a €3.3bn refinancing package. -
The head of European high yield credit trading at Citigroup is leaving the bank to pursue a career away from rival banks.
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After a muted Monday, when British American Tobacco’s sterling and Hemso’s euro trades were the only deals on screens, the European corporate bond market has surged as buy-side demand supported negative yields and hefty order books.
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Indiabulls Housing Finance raised Rp13.3bn ($200m) from its maiden Masala bond on Wednesday. The trade was the third public offshore rupee deal from an Indian name and more companies from different sectors are set to follow suit, reckon bankers.
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China South City Holdings (CSC) raked in $200m from its Tuesday bond outing in what was a busy day of issuance in Asia’s primary debt market. The competition took a toll on the deal, as demand for the high yield property name was lacklustre.
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Vietnam’s Vingroup Joint Stock Company has allocated its $300m borrowing after selling the full greenshoe of $60m.
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R&R Ice Cream is scheduled to launch €1bn of loans this month as its joint venture with Nestlé’s ice cream business, Froneri, nears completion.
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German health care group Fresenius is set to unroll more than €5bn of debt to fund its acquisition of Quirónsalud, a Spanish peer, which it will integrate into its Helios hospital network.
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Indiabulls Housing Finance is looking to raise a minimum of Rp10bn ($150m) from its maiden Masala bond, becoming only the third Indian corporate to seek offshore rupees in the public market.
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China South City Holdings (CSC) has returned to US dollars after an absence of close to three years.
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Industrial Bank is set to test investor appetite for its maiden dollar offering after setting up a new medium term note programme and mandating firms for a transaction.
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Investors’ concerns about the performance of the shipping industry have hit bonds of the French group CMA CGM in an otherwise stable high yield secondary market.
