Morgan Stanley

Mexican IT service provider Six Sigma Networks (Kio) sold a $500m seven year deal on Tuesday well inside price talk to show that the market is wide open for LatAm high yield despite rating agency warnings this week that the region’s sub-investment grade borrowers will be more affected than most by changing external conditions.

UK cinema chain Vue has issued €70m of six year senior secured floating rate notes to back its acquisition of Space Cinemas.

Ireland's longest dated benchmark in five years is more than twice subscribed, allowing leads to set pricing at the tight end of guidance.

Council of Europe Development Bank (CEB) has hired lead managers to run the first five year dollar syndication since a pair of deals failed to cross the line three weeks ago amid strong volatility in US Treasuries. Sweden and Caisse des Dépôts et Consignations brought deals with more conservative maturities.

Ontex, the Belgian producer of disposable hygienic products for babies and adults, is beginning on Tuesday a roadshow in London for a €250m high yield bond, after completing its IPO in June.

Ireland is this week set to price its longest-dated benchmark since its international bailout in 2010. Proceeds, coincidentally, are earmarked to pay off one of its bailout creditors. Fellow eurozone periphery countries Spain and Greece will join Ireland in the market this week with auctions.

French telecoms group Altice has announced an offer to buy the Portuguese assets of Portugal Telecom from Oi, the Brazilian telecoms company, for €7bn.

Heathrow has signed a £2.15bn refinancing of its revolving credit and liquidity facilities with a syndicate of 22 banks. The loan comprises a £1.4bn revolving credit facility and a £750m standby liquidity facility.

Existing bondholders switching into new notes will add some Pen4.162bn ($1.46bn) to the issue size of the Republic of Peru’s new sol-denominated 2024 bonds as the sovereign cleans up its near term debt profile.

Market participants are bracing themselves for an onslaught of bank capital deals in the coming weeks after another member of China’s big four banks – China Construction Bank (CCB) – announced it will be meeting investors for a CNH tier two trade.

The US investment grade corporate bond market barely blinked this week when the US Federal Reserve called time on quantitative easing. Companies hit the market ahead of what is expected to be a bumper November for new issuance.

Jasmine International Public Company, which is setting up an infrastructure fund for its broadband internet business, plans to begin investor education next week for the roughly $1bn Thailand IPO.