Bank of America
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South Korean asset manager Poseidon 2014 has launched an up to W174.1bn ($154.3m) block sale of shares in shipping services provider Pan Ocean Co. -
South Korea’s Shinhan Bank is set for a new Basel III tier two dollar bond, as it markets a transaction that mirrors its debut 18 months ago.
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Japanese telecoms company SoftBank has done it again. On Tuesday, it replicated its 2015 success of a €4.5bn bond issued outside of the US high yield market with a new €4.75bn issue.
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Three borrowers came to market for dollar paper on Tuesday and another hit screens announcing a transaction on Wednesday, as bankers reported strong conditions in the currency.
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Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.
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Monday saw five new corporate bond issues in Europe, but Ahold Delhaize was the only issuer to price a deal on Tuesday. Unlike the triple-B rated issuers on Monday however, the Dutch food retailer paid a single digit new issue premium.
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US chicken processor Pilgrim’s Pride Corp plans to fund its £1bn buyout of UK peer Moy Park with cash in hand, an extension of its term loans, and a new debt issue to repay a JBS subordinated note.
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Austria has picked banks for a five year bond to be launched on Tuesday, but may also extend its curve to 100 years.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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ICICI Lombard General Insurance, India’s largest private sector non-life insurer, is set to launch its IPO on September 15, and is eyeing up to Rp57bn ($892.8m).
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A lack of five year dollar supply and an acceptance that since the summer issuers need to offer a bit more juice helped a pair of supranationals launch strong trades this week. Other supras are rumoured to be considering follow-on deals next week, although some bankers warn that investor appetite may be sated for the moment, and everything could hinge on how a sharp US Treasury move late on Thursday plays out.
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