Bank of America
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New York seemed set to avoid Hurricane Florence but US investors whipped up a storm of their own as they poured cash into a succession of big ticket deals from blue-chip domestic and Yankee names. -
African borrowers will soon add a new flavour to the wave of Middle Eastern issuance that has so far dominated the autumn pipeline.
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In their different ways, Bank of America Merrill Lynch, Nomura and Barclays have come to define the successes and challenges that have shaped banking in the past decade.
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Bank of America Merrill Lynch (BAML) has tapped Simon Cox to lead its equity capital markets (ECM) business in Australia, according to a memo seen by GlobalCapital Asia.
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The Inter-American Development Bank and KfW drew strong demand in the dollar SSA market on Tuesday, with the former issuing just the fourth 10 year dollar benchmark from an SSA of the year.
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Shares in Aryzta, the frozen baked goods company listed in Ireland and Switzerland, surged by as much as 13% on Tuesday morning after it signed an agreement with five international banks to underwrite its €800m rights issue.
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Akbank’s revised lender-friendly terms on its syndicated loan looks like it will be enough to secure a decent deal, though some bankers considering the trade say the issue runs far deeper than risk adjusted pricing.
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The deal flow of high yield bonds kept rising in euros and sterling this week. Four new issuers joined the already heavy pipeline, including a euro bond from UK premium car manufacturer Jaguar Land Rover.
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Public sector euro benchmark supply is set to restart after a lull last week, with a eurozone sovereign and a French agency hitting screens on Monday for pricing on Tuesday.
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The European Investment Bank launched its new line of Sustainability Awareness Bonds on Thursday, with a €500m issue that found keen demand from investors. The EIB hopes the SABs will influence the debate on classification in the world of sustainable finance, including the European Commission’s new official Taxonomy of sustainable economic activities.
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The European Investment Bank achieved very tight pricing for the launch of its first sustainability bond on Thursday, in a sign that the exhaustive marketing it had done for the €500m deal had succeeded. The EIB sees this new product line as a way to influence market practice in the direction of clear explanation of sustainability goals and indicators.
