UBS

Lima Corporate, the Italian maker of orthopaedic implants, kept the euro high yield new issue market in motion with a floating rate bond deal, which, unusually, will be used to refinance the loans that funded its buyout by EQT from Ardian.

China Chengtong Holdings Group priced its inaugural $500m bond on Tuesday, hitting the market as it transitions under a pilot programme for state-owned enterprises. Investors debated fair value for an unrated credit that is somewhere between a corporate and a financial, reports Morgan Davis.

LVGEM (China) Real Estate Investment Company is preparing its first international bond, mandating eight banks to work on the transaction.

Italian maker of orthopaedic implants, Limacorporate, cancelled its bond roadshow in continental Europe on Wednesday, as investor demand from its London meetings accelerated the pricing of a deal to refinance a loan with floating rate notes.

High yield issuers Future Land Holdings Co and China Logistics Property raised a combined $300m from their bonds on Tuesday. But the borrowers saw different outcomes. While investors continued to be attracted to property names, making Future Land’s deal 10x covered, they were less responsive to debutant CNLP.

China Chengtong Holdings Group debuted in the debt market on Tuesday, sealing a tight $500m deal as the state-owned operating company transitions to a new entity. But its foray wasn’t without questions, as bankers and investors debated the unrated credit’s status as a corporate or a financial.

China Chengtong Holdings Group, a pilot state-owned operating company, is offering investors a taste of its inaugural deal, launching a five year bullet on Tuesday.

Maiden dollar issuers China Logistics Property (CNLP) and Future Land Holdings Co are attracting bids for new bonds, adding to the high yield issuance from the Mainland.

Limacorporate, the Italian maker of orthopaedic implants, is set to keep the euro high yield new issue market in motion with a floating rate bond deal, which unusually will be used to repay the loans that funded its buyout by EQT from Ardian.

An issuance vehicle behind Panamá’s proposed second metro line, which saw construction begin in October 2015, is looking to sell $619m of senior secured notes on Monday after announcing initial price thoughts of low 4%.

ZhongAn Online Property and Casualty Insurance Co is gunning for a valuation of up to $10bn in its Hong Kong IPO as bankers tout its China new economy credentials.

After Monday’s British flavour to corporate bond issuance, German real estate company, Grand City Properties brought the only new issue in the market on Tuesday, as part of an exercise to extend the average maturity of its debt.