News content

In his eternal quest for truth the Loan Ranger turns to Michael Jackson for guidance.

Two Chinese brokerage firms are pushing ahead with their IPOs in Hong Kong even as the rally in China’s A-share market took a sharp pause last week. Guolian Securities Co and Luzheng Futures Co both opened books on Monday, vying to raise a combined HK$4.14bn ($534.04m).

Lifestyle International Holdings broke the lull in the dollar bond market on June 19, raising $300m from an order book that was three times covered. Bankers on the deal say they wanted to avoid the cramped pipeline expected in the week of June 22 and hailed this deal as giving confidence to other dollar issuers which had been staying away due to high volatility.

Singapore-listed Frasers Centrepoint (FCL) is planning to raise £300m ($475.7m) by way of a loan to fund its UK subsidiary’s recent acquisition of boutique hotel chain Malmaison Hotel du Vin.

Banco ABC Brasil, a subsidiary of Arab Banking Corp (ABC), is looking to woo Taiwanese banks for a new $150m two year facility and is holding a bank presentation on June 23 in Taipei to meet lenders.

Chinese names have packed up and are heading out for investor meetings across Asia and Europe as the issuers consider bonds denominated in dollars, renminbi and euros.

Indomobil Finance Indonesia has tripled the size of its facility to $300m following rousing demand from banks, with the syndicate group seeing no scaleback in their final holds.

Innocean Worldwide opened books on Monday, June 22, for its South Korean IPO of W355bn ($323m), on the back of some positive response from the market during the investor education phase.

Export-Import Bank of Korea (Kexim) has mandated seven banks to work on its return to the dollar bond market which could be as early as this week.

Bank of China’s (BoC) proprietary cross-border RMB index (CRI) for April 2015 saw an increase in RMB usage, with capital account account RMB outflows rising steadily on the back of recent liberalisations.

The University of Liverpool became the latest UK university to tap the capital markets on Friday, rounding off a tricky week for corporate borrowers with a well received 40 year sterling issue.

The eurozone’s angst over Greece slowed down the high yield market this week, with only two deals priced. The second of these was Worldwide Flight Services’s €225m unsecured bond.