Loans and High Yield

US coatings manufacturer Axalta priced its $875m dual currency offering on Tuesday as it brought this week’s second cross-border bond, at pre-Brexit pricing levels.

Czech software security firm Avast had commitments due on its $1.6bn equivalent six year term loan package, following a notable price tightening, on Tuesday, yet market participants remain sceptical about the broader tech sector's trajectory in European levfin.

Finnish crane manufacturer Konecranes has signed €1.5bn of loan facilities for its revised agreement to purchase a unit of US firm Terex.

CSI Properties completed a swift transaction on Monday in a market that is starting to slow down due to the summer break. Despite being unrated and with few direct comparables, the firm managed to slip in its first dollar bond in more than three years.

In a rarely seen occurrence in Asia, a Chinese company-led consortium is set to use staple financing to support its acquisition of shares in Australian company GenesisCare, according to sources.

Tullett Prebon has entered an agreement to buy Creditex’s US hybrid voice broking business from Intercontinental Exchange.

Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.

The leveraged loan market remains one of the biggest sources of concern for the US Federal Reserve, which has cited it as the 'primary contributor' to the number of inadequate credits it examines.

Spain’s Cellnex Telecom, a broadcasting towers business, hit the investment grade and high yield euro markets on Monday, just over six weeks after it roadshowed for the deal.

Two Hong Kong issuers hit the dollar debt market on Monday, with CSI Properties launching a new five year bond, while Hong Kong Airlines re-opened its existing notes, driven by reverse enquiry.

The list of companies issuing Panda bonds in China’s exchange market continues to grow with a pair of red chip names, Agile Property Holdings and China Everbright, raising a combined Rmb7bn ($1.05bn).

A single Chinese lender will help fund a take private of Hong Kong-listed Peak Sport Products, according to an exchange filing.