Mizuho

As fund managers fill their pockets with corporate leveraged finance debt, borrowers like BMC Software are taking advantage of strong conditions to slash funding costs across their financial structure.

The three corporate bond issuers who sold new issues in euros on Tuesday offered something short, something intermediate and something long. The shorter tranches benefitted from the most interest.

China Construction Bank Corp and Bank of Communications Co snapped up investors on Monday when they offered up multiple tranches of floating rate dollar bonds through their Hong Kong branches.

The leveraged loan market is approaching Christmas on course to beat last year’s issuance, particularly for financing of new buyouts.

The Republic of Turkey is planning to use yen to round off its funding for the year, and has named three leads to arrange the deal.

China Construction Bank Corp launched a triple-tranche dollar deal on Monday through its Hong Kong branch.

Tata Motors’ £640m ($839m) refinancing has been launched into general syndication after the senior phase was completed this month.

The dollar tranche of Ülker’s second loan of the year has been priced 20bp tighter than on its first loan of 2017, suggesting the market is swinging in Turkish borrowers’ favour as political noise in the country quietens down.

Some 17 banks have pledged roughly €15bn in a bridge loan to support Hochtief's bid for Abertis, the Spanish toll road operator.

Export-Import Bank of China (Chexim) extended its curve with a 30 year dollar bond on Tuesday, part of a multi-tranche deal in which it raised a hefty $3.275bn in two currencies.

Chinese issuers are storming the debt market this week, with Tuesday seeing the Export-Import Bank of China (Chexim), Shanghai Commercial Bank and Oceanwide Holdings Co among the borrowers enticing investors.

Toyota Motor Finance (China) has sealed a Rmb3bn ($452.7m) transaction in the Chinese asset-backed securities market — its second deal in the country this year. While the trade was wrapped up successfully, the issuer’s efforts to woo Bond Connect investors appeared to have been in vain, said sources.