Mizuho

BMC Software has shrunk its triple-C rated high yield bond issue from €380m to €250m as demand proves hard to come by. But Burger King France has managed to price its offering at the tight end of the range, though with an adjustment to the tranching.

China Citic Bank sold its first senior unsecured dollar bond on Thursday, executing the four tranche floating-fixed combination deal in a club style fashion.

The euro high yield pipeline unveiled a battery of deals this week, six of them with ratings below double-B. The largest came from French frozen food retailer Picard Surgelés, which will refinance over €1bn of existing debt and pay a dividend to its private equity sponsors.

Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.

Charoen Pokphand Foods (CPF) has brightened up Thailand’s offshore syndications market, tapping international liquidity for a $625m loan. With few other deals from the southeast Asian country whetting lenders’ appetite, banks are keen to take a piece of the fundraising. Shruti Chaturvedi reports.

China Citic Bank Corp rolled out a four-tranche transaction on Thursday after a roadshow spanning Hong Kong, Singapore and London. Meanwhile, India’s ICICI Bank is marketing a 10 year bullet through its Dubai branch.

Mizuho has laid off three people in its high yield team, two in sales and one in trading.

India’s Rural Electrification Corp is one of the few non-Chinese issuers laying the groundwork for a new dollar bond before the end of the year.

CPF Investment, a unit of Thai firm Charoen Pokphand Foods (CPF), has approached the syndicated loan market for a $625m borrowing.

A handful of Chinese issuers are set to go on roadshows next week to gauge investor interest for their offshore bonds.

Japan Bank for International Cooperation (JBIC) and a syndicate of lenders have provided a $2.73bn loan to finance the construction of a railway and upgrade a port in Mozambique, which will ensure the long term supply of coal to Japan from the African country.

Lead banks have scheduled a December date for the syndication of a €3bn equivalent multicurrency loan package that is supporting PAI and British Columbia Investment Management Corporation’s leveraged buyout of bottling company Refresco.