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GC Asia
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Trafigura causes a stir with debut Schuldschein
One of the world’s largest commodity traders, Trafigura, has launched a Schuldschein which, due to its credit profile and intended yield, is a clear outlier. While some see the borrower as too risky for this market, others see it as a sign of the Schuldschein's growing ambition.
15 Jan 2021 -
Hamburg Airport fails to land Schuldschein
Hamburg Airport has pulled a Schuldschein transaction with an initial target of €100m, according to several market sources, due to a lack of interest from investors.
15 Jan 2021 -
People news in brief
Natixis promotes DCM bankers — Powell quits IFAD job — NatWest Markets makes Peberdy, Donaldson and Manwaring's positions permanent
14 Jan 2021 -
TIM and Autostrade slip in before political fears hit
TIM, formerly Telecom Italia, got almost €4bn of demand for its debut sustainability bond on Monday, a €1bn eight year. The company put its sustainable financing framework in place last year, an umbrella document allowing it to raise green, social or sustainable finance in bond or loan format.
14 Jan 2021 -
UK MD at Goldman joins digital infra investment firm
Digital Colony, which invests in mobile and internet infrastructure, has hired Latifa Tefridj-Gaillard as head of Europe capital formation.
14 Jan 2021 -
Politics and Covid fail to dent UK fee pool optimism
Bankers are betting on a strong year for the UK — Europe’s biggest fee pool — but the overlapping concerns of Brexit, Covid-19 and regulation make for an uncertain outlook, writes David Rothnie.
14 Jan 2021 -
Banks unveil bond leg of Verisure’s €1.6bn divi package
Banks launched the bond leg of a combined €5bn refinancing for alarm company Verisure, which will raise cash for a €1.6bn dividend to shareholder Hellman & Friedman. This payment follows the transfer of the company between two H&F funds at a €14bn valuation.
14 Jan 2021 -
Mayr-Melnhof Karton launches debut Schuldschein deal
Austrian paper and packaging firm Mayr-Melnhof Karton, called MM Karton for short, has launched a Schuldscheine, with an initial target of €300m.
14 Jan 2021 -
Europcar CDS worthless as auction misfires
Some €700m of CDS contracts referencing Europcar’s debt have been rendered worthless thanks to a technical squeeze in the CDS auction on Wednesday, in a blow for investors who thought they’d hedged their exposure to the troubled car rental firm. The controversial result threatens to reignite debates about whether the CDS market is fit for purpose, ahead of an expected wave of restructurings in the year to come.
14 Jan 2021 -
First Resources seeks $150m dual-currency loan
Singapore-listed palm oil company First Resources is tapping the loan market for a $150m-equivalent dual-currency deal.
14 Jan 2021
High Yield Bonds
Asia high yield bonds news
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Greater China borrowers swarm dollar market
The frenetic pace of dollar bond issuance from Greater China continued on Thursday as three property companies and two government linked names courted investors.
15 Jan 2021 -
Beijing Capital drops perp, prices bigger senior bond
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Chinese issuers wrap up busy week for issuance
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HSBC's Asia ambitions remain after Enns leaves
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Asian issuers smash records with frenetic start to the new year
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Greater China issuers ride on strong liquidity to push out bonds
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Chinese property companies storm dollar market
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China property names reopen dollar market
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Asia bond market at full throttle in new year
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Shandong Sanxing extends exchange deadline
