Bank of America
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Glencore, the Swiss commodities trading and mining company, has breathed some life into Europe's equity-linked market with a $500m equity-neutral convertible bond due in 2025. -
The Nordic Investment Bank has announced that it will become the second borrower of the week to access the two year dollar market. The first, Kommunalbanken, scooped up $1.25bn on Tuesday.
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The Council of Europe Development Bank returned to the market for socially responsible investments on Tuesday, printing a seven year “social inclusion” bond.
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Shinhan Bank was forced to pay a new issue premium (NIP) to complete its Basel III-compliant tier two deal on Monday, like most other issuers in recent weeks. But the South Korean borrower still managed to price its bond tighter than expected.
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Funding for leveraged buyouts in the European primary high yield market gained further share of overall issuance this week, as specialty car parts maker LKQ of Chicago sold a €1bn bond for its acquisition of German peer Stahlgruber.
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Two new SRI corporate bonds were priced on Monday, but with very different results. Iberdrola’s green hybrid bond failed to tighten from initial price thoughts, while Danone’s debut social bond had to pay just 2bp of premium.
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Baidu-backed video streaming platform iQiyi kicked off bookbuilding for its $2.38bn US listing on Monday and was covered quickly.
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HDFC Asset Management Co is set to kick off investor education for its India IPO, according to a banker working on the deal.
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The going was heavy for dollar borrowers as investors demanded extra concessions amid poor performance as CVS Healthcare’s trade from the previous week appeared to re-price the market.
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Books closed on the IPO of Siemens Healthineers, the healthcare technology division of Siemens, on Thursday lunchtime, with the base deal valued at €3.65bn and the company at €28bn.
