Bank of America
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September has seen a variety of issuers access the corporate bond market. From regular issuers to those who have not issued for over a decade, the consistent theme has been single digit new issue premiums for what one syndicate manager described as “manageable deal sizes.” Monday saw new issues in a similar vein. -
SMCP, the French fashion group, has filed a document de base with AMF, the French market regulator, paving the way for its flotation on Euronext Paris.
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Turkey’s Yapi ve Kredi Bankasi has put its second refinancing loan of the year in motion with banks expected to respond by Wednesday.
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South Korean dollar bonds are hitting the market unabated despite a new missile launch from North Korea last Friday, with Hyundai Capital America and Kookmin Bank marketing new paper.
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Pirelli, the Italian tyre maker, has revealed the price range for its IPO in Milan, which could surpass the €3bn flotation of Allied Irish Banks in June as the biggest IPO in Europe this year - if the deal is priced near the top of the range and the greenshoe is exercised.
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ICICI Lombard General Insurance Co kicked off a three day bookbuild for its potential Rp57bn ($888.8m) listing on Friday after placing Rp16.2bn of stock with a hefty group of anchor investors.
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A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.
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Strong short end dollar demand led a host of issuers to print tight deals this week, including one debut. Investor appetite is expected to stay strong, but bankers are sceptical that there will be much supply.
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Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.
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Bank of America helped to cap off a busy week of new FIG supply, as banks found a window to return to the primary market following the summer break.
