Bank of America

Quantitative easing, perhaps the single most important factor affecting bond prices over the past three years, could be coming to a long awaited end this year. Members of the European Central Bank governing council seemed to hint as much this week, causing govvie spreads to gap wider, writes Lewis McLellan.

Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.

Swiss Re, the reinsurance group, returned to the equity-linked debt market on Wednesday with a deal that reinforced this issuer’s reputation for financial innovation: a $500m equity-neutral convertible bond that also acts as a contingent convertible security — except with more flexibility for the issuer.

Workspace Group, the UK real estate investment trust, has hit the market with a £189m capital increase following the publication of its annual results on Wednesday morning The deal was covered in an hour and a half.

Rentenbank on Tuesday sold what Dealogic data shows is its largest ever euro benchmark, while the State of North Rhine Westphalia visited the long end of the curve.

The IPO of Adyen, the Dutch payments company, which is one of the most anticipated listings in Europe this year, has got off to a good start, with the book covered throughout the range just over an hour after being opened.

Hyundai Capital America took advantage of investors’ newfound love of floating rate notes on Monday, sealing a $1.3bn triple-tranche deal led by a three year floater.

Bank of China offered something exciting to the debt market on Thursday by selling green bonds as well as the first sustainability note from a Chinese issuer.

US corporate bond bankers are hoping for a rebound in supply in June, after the high grade new issue market limped to the end of May.

A topsy-turvy market backdrop is pushing a slew of Chinese borrowers, mainly property companies, to raise funds by tapping their existing dollar bonds. Buy side interest remains, but only for the right names, writes Addison Gong.

Credit Suisse has re-hired Josh Presley to work on its debt syndicate team, this time in New York.

Chinese footwear brand Belle International is returning to the offshore loan market to amend and extend a borrowing signed last year, as well as to raise funds for dividend recapitalisation.