Loans and High Yield

ZF Friedrichshafen, the German car parts maker, sold its first bond on Monday, raising €2.25bn at yields under 3%, in a market supportive of its expansion strategy.

Trafigura Beheer met its size target when it issued a €550m five year bond on Monday, but could not tighten pricing from initial thoughts, in the face of investor caution.

Telenet, the Belgian cable telecoms company owned by Liberty Global, has launched a €1bn loan to back its acquisition of Base, the mobile network operator.

German plastic packaging maker Kloeckner Pentaplast's leveraged loan has found strong demand, enabling it to tighten pricing, close it early and increase the loan by €50m.

Wind turbine manufacturer Senvion is seeking to issue €400m of senior secured green bonds, in connection with its sale to Centerbridge Partners for €1bn.

Taiwan Broadband Communications’ NT$32bn ($1.02bn) seven year loan was launched into general syndication late last week, said bankers. The money, which is for refinancing, was prefunded by the four mandated lead arrangers and bookrunners, along with three MLAs.

Doosan Heavy Industries & Construction has opened books for its first dollar bond in the offshore market on Monday, having completed a global roadshow last week.

Beiqi Foton Motor Co will kick off a series of investor meetings this week as the Beijing based commercial vehicle manufacturer seeks to issue a bond in the international market.

UBS has hired David Slade as global co-head of leveraged finance and leveraged capital markets.

Following a botched deal five months ago, Reliance Communications (RComm) is once again planning to issue a dollar bond and will be sounding investors out starting on April 20. Learning from its mistakes, the Indian firm will be marketing the issue with credit ratings from both Fitch and Moody’s.

The European high yield market this week was in ebullient mood as borrowers left behind the Easter holidays and brought a wide variety of deals to market.

Busy Bee, the UK nursery and early education provider for under-fives, held a bank meeting on Wednesday to market its £210m term loan ‘B’.