Short SSA dollars find sharp demand, snappy pricing
The short end of the dollar curve is enjoying a purple patch, with public sector borrowers drawing big books and pricing with much lower new issue premiums than earlier in the year.
View ArticlePortugal cuts concessions with dual tranche tap
Portugal breathed some liquidity into a pair of outstanding bonds on Wednesday with its first syndication since January, achieving much lower premiums than its last syndication, according to bankers.
View ArticleCLO investors buoyed as Valeant looks to turn tide
Upbeat headlines and a subsequent jump in the stock price of Valeant Pharmaceuticals has lifted the mood of US CLO investors, who previously believed that ongoing troubles at the Canadian drug company...
View ArticleScant encouragement for equity-neutral CBs from Eni’s tough €400m
Eni issued a €400m convertible bond today that had to be reduced in size and repriced at worse terms for the issuer. The deal was an important test of whether there is still vigour in the spate of...
View ArticleFirst block trade in Worldpay grows to 13.75% stake
The first block trade in Worldpay since its £2.5bn IPO in October is taking place this evening, as Advent and Bain, its private equity owners, are selling a 13.75% stake, likely to fetch £740m. The...
View ArticleING fights reg risk with new bond switch option
ING printed an operating company tier two bond this week that can be converted into holding company debt, a new technique that could be used by other borrowers and even applied to senior unsecured...
View ArticleYankees leap at strong US FIG market
Yankee banks took full advantage of strong funding conditions and the undivided attention of investors to print a volley of senior paper this week, as Wall Street’s heavyweights skulked in earnings...
View ArticlePeople Moves in Brief
FIG DCM head quits SG - Three leave DB's EM team - ICBC Standard hires coverage head
View ArticlePortugal fails to impress as Ico gets social
Portugal brought a dual tranche syndicated tap this week, in what some bankers felt was a disappointment amid a busy market where every other deal went well — but the leads were quick to defend the trade.
View ArticleDB lead adviser on Nova Ljubljanska IPO
Slovenian Sovereign Holding, which manages state assets, has chosen Deutsche Bank as financial adviser for the privatisation of Nova Ljubljanska banka. It will probably be done as an IPO, possibly this...
View ArticleEuropean HY hits stride with Numericable and LKQ
The European high yield bond market burst into life this week with the largest single tranche deal of the year and — more significantly, said some bankers — the first euro deal from a US issuer.
View ArticleIADB shouts ‘action’ as dollar blockbusters light up screens
Inter-American Development Bank (IADB) on Tuesday threw open the door for dollar issuance as the second quarter of the calendar year kicked off, with several other issuers eagerly following.
View ArticleAdvent sells next 14% of DFS at £3 after good results
Jefferies and UBS conducted on Thursday night the second block trade of shares in DFS Furniture, the UK sofa retailer, since they led its £221m IPO in March 2015.
View ArticleWhy so negative?
It’s April, so that means it’s time to start talking about 10 year Bund yields turning negative again.
View ArticleJP Morgan doubles down on fixed income
JP Morgan announced a recommitment to fixed income, an area where many rivals are retrenching, in its annual letter to shareholders.
View ArticleAT1 returns to euros as BBVA signals new pricing benchmark
BBVA launched the first euro denominated AT1 transaction since February’s sell-off this week, pricing the bond through its outstanding notes’ yield to call and fuelling hopes the primary market is...
View ArticleANZ names new Pacific Islands chief
ANZ has named Tessa Price as the head of its Pacific Islands operations, according to a press release from the bank.
View ArticleHong Kong to join AIIB in June, says bank president Jin Liqun
Hong Kong has a very important role to play in the Asian Infrastructure Investment Bank, with the financial centre expected to be accepted as a member as early as June 2016, said Jin Liqun, president...
View ArticleVodafone starts pitch process for India IPO
Vodafone has begun selecting underwriters for the IPO of its Indian arm, with banks asked to sign non-disclosure agreements in order to pitch for a role.
View ArticleSecondary pricing update: featuring IFC's $700m 10y green bond
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.
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