Morgan Stanley
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Mexican construction company Empresas ICA announced initial price thoughts of mid-9% for a new 10 year non-call five dollar benchmark to be used to fund a tender offer.
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Longfor Properties has announced guidance on its inaugural CNH offering. -
Bank of Toyko Mitsubishi UFJ (China) priced the first CNH issue from a non-leasing subsidiary of a Japanese financial institution on Monday. Rarity drove investors to the bond and while the issuer paid up over its dollar curve, it will use the proceeds onshore and does not intent to swap back.
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DE Master Blenders, the Dutch coffee company, will raise loans totalling €7.5bn to back its merger with the coffee business of Mondelez International.
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Matalan Finance, the parent company of British clothing retailer Matalan, priced on Friday £492m of senior secured notes to refinance all its outstanding bonds.
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Chinese after-school tutoring services provider TAL Education raised $200m on May 15, pricing a 2019 convertible bond in the middle of guidance after receiving good interest from investors.
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Bank of Tokyo-Mitsubishi UFJ (China) launched its debut offshore renminbi bond on Monday. As the first CNH issue from a non-leasing subsidiary of a Japanese financial institution, the deal attracted a strong following just a few hours after launching.
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LatAm bond markets finally began to show signs of softening in the second part of the week but food conglomerate BRF Brasil Foods showed there is still strong appetite for well thought out deals on Thursday.
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Matalan to refi with £492m HY – Finland’s Paroc wins €2bn book
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Public sector issuers that ventured into dollars this week were inundated with demand, allowing them to bring a series of oversubscribed deals in the short to medium part of the curve. Others are tipped to follow if conditions are stable next week — after a stormy afternoon of trading across credit markets on Thursday.
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Bond investors are expecting Mexican construction company Empresas ICA to receive a strong response for a planned new bond after the company posted improved first quarter results.
