Loans and High Yield
-
Moody’s said in a report released on Wednesday that the UK leaving the European Union would be credit-negative “for most UK-based companies”. -
Loxam, Europe’s leading construction and industrial equipment rental firm, this week increased its seven year bond offering from €210m to €250m, tightening pricing in the process.
-
China Aoyuan Property Group executed a highly popular $250m transaction this week that saw books more than seven times covered, in what was a rare appearance from a Chinese high yield property company in the dollar bond market.
-
The European corporate bond market is persisting with its unusual habit of deals being launched with fat new issue premiums, which are then taken away by extreme tightening during the bookbuild.
-
Veteran banker Ali Abbas Alam, co-head of the emerging markets financing group for Asia at Credit Suisse, is due to leave the lender after a 16 year spell.
-
Burford Capital, the litigation finance firm, has raised £100m with its retail bond issue, the third this year on the London Stock Exchange’s Orderbook for Retail Bonds, and the largest since August.
-
Large flows coming into US credit have increased the attractiveness of CDX index options prices versus iTraxx, said market participants this week.
-
After a short stint at ANZ, a former Royal Bank of Scotland managing director joined Banca Imi last week
-
Preem, Sweden’s largest oil refiner, is marketing $700m of senior secured five year non-call three PIK toggle notes at numerous investor meetings throughout this week.
-
Cirsa, the Spanish gaming company, increased a five year bond offering this week from €300m to €450m after receiving an enthusiastic investor response, and priced it tighter than the guidance range on Tuesday.
-
China Aoyuan Property Group made light work of jittery market conditions on Monday with an extremely popular $250m bond that was more than seven times covered by asset-hungry investors.
-
An executive director in the loans syndicate and distribution team at Standard Chartered in Hong Kong has quit.
