Bank of America
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A flattening and rising US Treasury yield curve may be sparking concerns of a slowdown for the US economy but it is having the opposite effect on the short end of the dollar market for public sector borrowers, writes Craig McGlashan. -
US corporate bond bankers are hoping for a busy start to the month for the dollar new issue market as companies emerge from earnings blackouts to bring some big M&A trades.
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Phoenix Community Housing, a non-profit housing association from London, has raised £60m of private debt using delayed draw.
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The London and Johannesburg listing of Vivo was covered today, two days after launch, good news for African equities after South African bottle producer Consol had to pull its IPO.
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Avast, the Czech cyber security company, has set the terms of its London IPO, valuing it at £3.2bn at the top of the range.
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Two issuers with double-B ratings, Darling Ingredients and Avast, achieved substantial financial cost savings with repricings this week, as pricing for top rated paper still looked attractive despite a recent uptick in spreads.
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Springer Nature, the German academic publishing group, has opened the books on its €1.3bn Frankfurt IPO with a price range that gives a “healthy discount” to peers.
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The IPO of Consol, the South African glass bottle maker, has been pulled on the last day of bookbuild. The seller blamed difficult markets and said it had not been able to achieve its “valuation objectives”.
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Anglo American Platinum, the biggest producer of platinum in the world, has sold a a 6.5% stake in Royal Bafokeng Platinum to finance its commitment to a joint mining venture in South Africa.
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Kommunalbanken has circulated initial price thoughts of 5bp area over mid-swaps for a no-grow $1bn three year benchmark, a level that bankers away from the trade said was 'well priced'.
