Loans and High Yield
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Busy Bee, the UK nursery and early education provider for under-fives, has held a bank meeting this morning to market its £210m term loan ‘B’. -
Indomobil Finance Indonesia has returned to the loans market for a $100m three year facility. The company has picked three mandated lead arrangers and bookrunners for the trade, which launched into general on April 14.
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Indonesia’s Bumi Serpong Damai (BSD) has kicked off a roadshow on the week of April 13 ahead of its first outing to the offshore debt market with a five year dollar bond.
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The corporate bond market is in good shape and putting the pre-Easter indigestion behind it, allowing issuers to accomplish varying aims with a range of transactions.
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The Asian bond market is in full throttle this week with a flush of new issuance from mostly investment grade names. But the high yield sector was not to be outdone with Central China Real Estate printing a red hot $300m bond that was close to 12 times covered.
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The Australian arm of Jindal Steel & Power is in the market for a $630m dual tranche loan, with two banks at the helm. The deal comes shortly after another Jindal family company — JSW Steel — successfully completed a $250m capital expenditure facility that drew several international lenders.
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Moy Park, the UK poultry producer owned by the Brazilian food group Marfrig, sold a tap of its £200m debut high yield bond at 98.501 to yield 6.55% on Tuesday.
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Abengoa, the Spanish engineering and renewable energy firm, on Thursday ticked the savings box with €375m of senior unsecured notes that achieved final terms below the 8.5% 2016 bond they are set to repay.
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Dutch postal operator PostNL has closed a €400m five year multicurrency revolving credit facility that will replace a €570m revolver due in 2016 newat lower cost.
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Top Right, the UK information and events group owned by Apax, has allocated its £435m-equivalent refinancing loan with a small change to the deal’s dollar tranche.
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BNP Paribas has hired an experienced high yield credit and CDS trader for its London operations.
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Central China Real Estate is looking to stand out in a crowded Asian bond market by offering investors a tasty price concession on its five year bond on April 14.
