MUFG

Takeda Pharmaceutical, the Japanese firm buying UK rival Shire, defied tough market conditions to press ahead with a $5.5bn trade to help fund its $62.5bn acquisition ahead of the Thanksgiving holiday.

Indonesian motorcycle financing firm Federal International Finance (FIF) has doubled the size of its fundraising to $400m after finding support from a 22-strong syndicate group.

After Volkswagen (VW) printed the biggest corporate bond trade in its history the previous week, Volkswagen International Finance sold a six tranche dual-currency deal on Monday. While pricing on the dollar clips was commended by market participants, there were fewer compliments about the euro tranches, writes Nigel Owen.

Japanese pharmaceuticals company Takeda implemented the first part of its financing of a £46bn takeover of UK biotech firm Shire on Thursday. The company used a six tranche combination to raise €7.5bn on its debut in the euro market.

French toll road operator APRR had been quiet in 2018 by its own standards, but it sold its first corporate bond deal of the year on Wednesday with a €500m long 11 year trade. It paid a low new issue premium for the deal, but lost a number of orders along the way.

Cement maker Semen Indonesia has mandated five banks for a $1.282bn bridge loan to support its acquisition of the local unit of Swiss firm LafargeHolcim.

Duke Energy Corp became the latest US utility to issue green bonds last week, when it priced a $1bn dual tranche offering.

After Volkswagen printed the biggest trade in its history the previous week, the company’s International Finance arm sold a six tranche dual-currency deal on Monday. In total, the company raised more than €14bn equivalent in a week.

Volkswagen printed the biggest trade in its history as high-grade corporate borrowers blitzed the dollar market in response to the results of the US mid-term elections.

UK hotel group InterContinental’s debut euro deal was the smallest of three new corporate bond deals on Thursday after Wednesday saw no new issuance. While Allergan and BMW sold multi-tranche deals, IHG’s deal had been well flagged and still received due attention from investors.

State-owned mining company Indonesia Asahan Aluminium (Inalum) closed a $4bn bond this week, letting loans bankers off the hook from a planned bridge facility. Addison Gong reports.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.