Bank of America
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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. -
Chinese bank ICBC was forced to cancel its dual-tranche bond on Wednesday as a result of market conditions.
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World Bank hit both the euro and dollar markets on Tuesday for its first syndicated green bond in over three years. Onlooking bankers were surprised by the level of demand for the euro tranche given what they claimed was aggressive pricing.
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Duke Energy Corp became the latest US utility to issue green bonds last week, when it priced a $1bn dual tranche offering.
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Emirates NBD is set to return to the dollar market, picking banks for a five year benchmark. The trade will be joined in the market by a dollar bond from UAE-based private healthcare provider.
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The EMEA equity blocks market enjoyed a second night of momentum of Thursday after the results of the US midterm elections kicked off trading this week, with two large transactions being priced.
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Nederlandse Waterschapsbank (NWB) will look to fill the €1bn-€1.5bn it has left to raise this year with its annual water bond benchmark and potentially a short end benchmark. That is in keeping with the wider SSA market, where bankers expect socially responsible investment (SRI) issuance to form the bulk of this year’s final trades.
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Supranationals found heavy demand from investors for privately placed taps of outstanding dollar and euro notes over the past week, with Asian Development Bank printing particularly heavy volumes.
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The European Financial Stability Facility finished off its 2018 issuance this week with what was likely the last jumbo euro benchmark of the year. The deal was solid, but SSA bankers warned the euro market feels “tired”.
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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.
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The State of North Rhine-Westphalia rounded out the week’s euro issuance with an oversubscribed 10 year euro deal that was priced 1bp inside guidance.
