Nyrstar sells whole rump of €274m rights issue in ABB
Nyrstar, the Belgian zinc producer, has successfully completed the sale of all the new shares on offer in its rights issue, after selling the rump of the deal in an accelerated bookbuild on Wednesday.
View ArticleDowngrade premium just the start of bond cost boost for ME sovs
A swathe of ratings downgrades. one of which prompted Bahrain to first cancel a tap and then reprint it this week at a higher yield, is just one factor that will force Middle East sovereigns to pay up...
View ArticleNational Express gets bridge as borrowers plan ahead
In its annual results released on Thursday, British coach company National Express reported increased revenues, profits and margin year-on-year in every division. The company has taken extra...
View ArticleGo long! Euro duration wide open as market awaits ECB
The long end of the euro curve is wide open for public sector borrowers, after a pair of issuers printed deals this week and speculation grew that further central bank stimulus is on the way.
View ArticleJitters in periphery as fears rise over Spanish and Portuguese outlook
Spain and Portugal continued to suffer political turmoil this week, with bankers worrying that Spain’s troubles might lead to a widening of its spread over Italian bonds.
View ArticleCredit braces for Brexit long haul as fears fail to derail supply
Senior capital markets bankers are preparing their teams for months of speculation on Britain’s possible exit from the European Union, after the markets treated them to a glimpse of investors’...
View ArticleFear for capital supply as CDS shows investors fear bank debt
The European bank capital market is not expected to build on its trio of 2016 transactions any time soon, as volatility in credit default swaps betrays lingering buyside fears about lenders’ stability.
View ArticleInvestors swarm on MUFG’s TLAC debut as US FIG jumps
The US FIG market rebounded sharply this week as Mitsubishi UFJ Financial exploited a favourable market backdrop and printed the first TLAC eligible senior trade from a Japanese bank.
View ArticleSSAs won’t brick it over Brexit — sterling deals keep up record run
A record breaking start to the year for SSA issuance in sterling kept pace this week, as the bond market showed little sign of contagion from a drop in the currency to a seven year low versus the...
View ArticleNew issuance picks up but CLO mood remains glum
New issuance picked up in the CLO market this week, but market confidence remains low amid volatile macroeconomic conditions and worries over the sector's high exposure to troubled corporate credit.
View ArticleEIB lures another university away from capital markets
The University of Edinburgh this week announced that it had raised a £200m loan from the European Investment Bank and a £100m private placement, after deciding against a £300m public bond.
View ArticleFour unwrap $430m HCP Global acquisition loan
A $430m five year loan for Baring Private Equity Asia’s acquisition of cosmetics packaging company HCP Global has launched into general syndication.
View ArticleEco World lays foundation for $500m IPO
Eco World International, which dropped plans for a special purpose acquisition company IPO in 2015, is seeking to raise $500m with a listing by the middle of this year, said sources.
View ArticleJiayuan launches $144m IPO at deep discount
Jiayuan International Group has opened books for a HK$1.12bn ($144.16m) listing in Hong Kong, with the Chinese property firm marketing the IPO at a huge discount to its net asset value.
View ArticleSberbank appoints new acting head of global markets in management changes
Sergey Gorkov, deputy chairman of Sberbank’s executive board, is leaving the bank, and a new acting head of global markets and head of corporate business have been appointed.
View ArticleFunding scorecard: Nordic agencies
This week's scorecard looks at the funding progress of Nordic agencies.
View ArticlePopular UniCredit spreads Friday feeling
UniCredit launched its first public senior unsecured bond in over a year on Friday, drawing strong demand and giving the FIG market a confidence boost.
View ArticleAbengoa's US subsidiary files for bankruptcy
Abengoa, the Spanish renewable energy multinational, has filed for bankruptcy in the US under its operating subsidiary there: Abengoa Bioenergy US Holding.
View ArticleSecondary pricing update: featuring Austria's dual tranche 2026s and 2047s
Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
View ArticleComment: Why Italy is a safer bet than Spain
Delve into the details of their respective economic and political prospects, and Italy’s investor credentials are seemingly more favourable than Spain’s, writes Jeremy Weltman.
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