News content
-
United Biscuits has returned to the leveraged loan market, seeking a repricing of around £960m-equivalent of debt, raised in December to back its buyout by Yildiz Holding, the Turkish foods group.
-
Gecina, the French real estate investment trust, issued its second euro bond of 2015 on Tuesday, and had to pay a chunky new issue premium and higher yield than last time.
-
Credit Suisse fell foul to volatile markets on Wednesday and was forced to pull the 10 year tranche of its holdco-opco offering.
-
National Bank of Abu Dhabi on Wednesday printed its $750m tier one perpetual with coupon of 5.25%, the lowest ever for this kind of deal from the CEEMEA region. The feat was even more impressive for being printed on a day when Credit Suisse had its 10 year bond pulled because of market volatility.
-
Oi, the Brazilian telecoms company, is seeking to issue a €500m high yield bond, and buy back four old euro bonds.
-
Investors are proving they have the stomach for additional tier one even in fragile market conditions this week, as Bank of Ireland pulled in €5bn of orders for the market’s second debut in two days.
-
Chinese online gaming company Giant Interactive, which wrapped up a $850m leveraged buyout less than one year ago, will prepay the money this month.
-
HSBC will be hoping that Asia is not about to suffer any extended financial stress as it is basing its growth strategy on the region for the next three years. But its plan to reallocate a large chunk of risk weighted assets (RWA) to Asia from poor performing areas raises questions over whether the opportunity in the region is big enough to support the investment, write Lorraine Cushnie and Mark Baker.
-
Dolmen City Reit priced Pakistan and south Asia’s first real estate investment trust on June 10, raising Prp6.12bn ($60m). Despite its small size, the trade is a watershed moment for Pakistan, beating India to the punch and paving the way for others to follow.
-
As the half year point of 2015 approaches, year to date CEEMEA volumes are at their lowest in six years. No bookrunner has escaped the plunge unscathed. But some have suffered more than others, and a rare few have taken a larger share of a shrinking CEEMEA market.
-
Moto-Pfohe, the Bulgarian importer of cars, has signed €80m of senior secured term and revolving loan facilities.
-
A flurry of borrowings by companies from Hong Kong and China has revitalised the sluggish syndicated loan deal flow in the region. Bankers expect more activity out of the area with a clearer view on the renminbi, bond investors’ skittishness on high yield and access to a diverse banking group luring borrowers to syndicated loans, writes Shruti Chaturvedi.