The People’s Republic of China is finalising the underwriting syndicate for its first US dollar sovereign bond since 2004, moving closer to a deal that has already had an impact on corporate credit curves.
Asia Pulp & Paper, the group behind Asia’s biggest corporate default, is looking to sell US dollar bonds for the first time since 2001 as it seeks to rebuild relationships with international investors.
ISDA’s determinations committee last week reiterated its decision to “dismiss” a default question relating to Noble Group, but managed to avoid the controversial bilateral settlement of credit default swaps by ruling that counterparties have insufficient information on the issuer’s extended loan to serve valid notices against each other.
The first major financial technology IPO in Hong Kong has drawn overwhelming demand from both institutional and retail investors, showing the city’s ability to support high valuations for new-economy companies.
South Africa sold US$2.5bn of bonds on Tuesday in its first transaction since its downgrade to junk status - but all the chatter was about the line-up of the bookrunners.
Toys ‘R’ Us has agreed a US$3.125bn debtor-in-possession financing as it seeks to restructure US$5bn of long-term debt.
National Bank of Greece is close to mandating a €300m-€500m three-year covered bond, according to sources familiar with the matter, in what would be the first Greek bank bond sold since 2014.
Hapag-Lloyd will launch its US$400m rights issue in the next few days, as the shipping giant seeks to bring down debt that has ballooned as a result of its merger with Middle East peer UASC.
Regulators have asked Blackstone subsidiary Invitation Homes, one of the largest US landlords, to provide information on how it values homes that end up bundled into mortgage-backed bonds.
Bain Capital’s proposed ¥2trn (US$18bn) acquisition of the memory-chip business of Japan’s Toshiba is set to stretch the boundaries of Asian leveraged finance as the region’s largest buyout.