Loans and High Yield

Singaporean property company UOL Group has raised a $120m green loan that will help fund the transformation of one of its hotels into a green building.

Frankfurt Trade Fair, the events organiser and world’s largest trade fair, is looking to issue Schuldscheine, according to market sources, for the first time in its 800 year history. The events industry has suffered through the pandemic, as organisers have had to postpone or cancel conferences, or reproduce them digitally, as a result of lockdowns.

DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.

China’s Belle International Holdings has returned to the loans market to refinance some of its debt, but has opted for a club loan this time around in a bid to cut costs associated with underwriting.

German pharmaceutical company, Phoenix Pharmahandel (Phoenix Group), held investor calls on Monday after mandating banks for a sub-benchmark sized offering in euros. The deal is the latest stab at funding by a pharmaceutical company — a sector which has lured greater numbers of investors thanks to the coronavirus pandemic.

HSBC has become the latest bank to create a dedicated team for sustainable finance amid the coronavirus crisis. This is part of a new strategic solutions group, which will also house two other solutions units: one for corporate finance, and one for financial institutions and capital.

Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.

Stonegate, the UK pub owner, raised just over £1.2bn-equivalent on Friday to partly refinance £2.73bn worth of acquisition facilities used to acquire competitor Ei.

Philippine oil refining and marketing company Petron has warned its lenders about a potential covenant breach on two of its dollar loans.

Chinese property developer Fantasia Holdings Group Co took advantage of the favourable market conditions on Thursday to raise money for refinancing. It found more support than anticipated, allowing it to seal a larger $350m bond.

Philippine real estate company Megaworld Corp raised $350m from bond investors on Thursday.

Manila Water Co managed to make its international bond debut on Thursday despite facing a number of challenges, including looming questions about its future amid a dispute with the Philippine government.