Bank of America
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Global stock markets have been hit with volatility in recent trading sessions, but European primary leveraged finance markets had already slowed down as investor pressure grew around Algeco’s €1.4bn deal and UK retailer New Look’s performance.
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Qatar National Bank is expected to increase its loan to around $3.25bn, after it received commitments exceeding its launch amount.
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Three dollar borrowers have hit screens in a market buoyed by a pronounced Treasury sell-off.
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Algeco Scotsman, the US storage group owned by TDR Capital, is talking to investors about sweetening the terms of its new high yield bond issue, due to be priced on Monday afternoon.
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Anglo-Dutch consumer goods company Unilever has become known in the corporate bond markets for its multiple tranche deals. On Monday it announced its third such trade in the last three years and investors showed they still have plenty of appetite for the name, helping the company print its largest ever deal.
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Two days after locking in a $1bn private placement, Qatar National Bank has sold a second two year floating rate note, this time for $1.38bn.
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Enerjisa, the Turkish utilities company owned by E.On and Sabanci, has attracted sizeable interest for its IPO, which was covered 4.8 times and priced at the bottom of the range.
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Bevco, the Luxembourg-based investment company that is the third largest shareholder in Anheuser-Busch InBev, made its corporate bond debut on Friday with a benchmark five year deal that won a warm reception from investors.
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China Cinda Asset Management Co raised a smaller than anticipated $2.5bn from a four-tranche deal on Thursday, despite having an order book that was about 6.6 times covered at its peak.
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Asia’s equity-linked market joined in the sub-one year bond party this week, as issuers and investors both found something to like in the structure. Two Chinese property developers successfully priced nearly identical 363-day deals, though they had slightly different results in the aftermarket. John Loh reports.
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China Evergrande Group attempted the largest Asian convertible bond in nearly two decades this week. But after investors baulked, the company pulled off one of the starkest changes of direction to a live deal GlobalCapital Asia has ever seen, relaunching with a new structure, a smaller deal size and a bigger bookrunning group, writes Jonathan Breen.
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Qatar National Bank has added to its run of funding with a $1bn two year private placement, according to sources.