Loans and High Yield

Hong Kong Airlines made a quick return to the international bond market on Wednesday with a $120m tap of its maiden dollar issue from January.

A key area of derivatives focus in the planned merger between data firms Markit and IHS will be opening up Markit's credit default swap analysis to IHS corporate clients, according to sources with knowledge of the matter.

Credit derivative indices rolled into new series on Tuesday, with traders reporting a big long bias in the outgoing US and European investment grade indices among buyside participants that caused the new series to trade tighter than the level implied by fair value.

Indonesian developer Grahamas Adisentosa is seeking a long-term borrowing of $1.458bn to fund the construction of a 111-storey building in Jakarta. The almost unprecedented size of the fundraising and an unusually long tenor have led to bankers debating who will come in for the deal, writes Shruti Chaturvedi.

Loss-making commodity trader Noble Group is in talks with banks for an unsecured borrowing of about $1.5bn to refinance existing debt.

Fiat Chrysler Automobiles issued €1.25bn of unsecured bonds on Wednesday, the second crossover deal in the European corporate bond market this week.

One of Abengoa's subsidiaries has signed a liquidity facility with a group of investment funds.

What looked set to be a quiet week in Europe’s corporate bond market burst into life on Wednesday, with three investment grade deals, after none on Monday and Tuesday.

Sequa Petroleum, the unrated company listed on the Euronext Marché Libre, announced guidance for its $200m secured notes with a double digit yield, a level not seen in the high yield market for more than a year.

Credit index options prices have fallen so far following recent central bank moves that implied volatility measures are below trailing measures of realised volatility for the first time in four years.

BNP Paribas has hired a banker for its loan syndicate team for southeast Asia.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is considering increasing the size of its borrowing to $350m after receiving commitments well over its target amount of $200m.