Bank of America
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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FMS Wertmanagement took advantage of the dearth of supply in short dated euro paper to score an extremely tight price for its €1.5bn November 2020 benchmark on Thursday. -
Two groups of vendors exited their holdings in two Asian firms this week, with block trades in Hong Kong-listed Imax China Holding and South Korea’s Kakao Corp raising a combined $278.1m.
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Latam Airlines emerged with pricing for a new seven non-call four year senior unsecured dollar bond on Wednesday at the end of a four day roadshow.
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FMS Wertmanagement has picked four banks for a short end euro transaction, making the most of the reopening of an area of the curve that has hosted very little public sector issuance in the past year.
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The dollar market was on spectacular form on Wednesday, with a Canadian province pushing out a rare 10 year bond, a supranational smashing its size record and a $4bn five year from a German agency.
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Public sector borrowers are lining up a three pronged attack on Wednesday in a dollar market that is enjoying its widest swap spreads of the year. Quebec is attempting the first 10 year dollar benchmark since the first week of the year, KfW is out in fives — a part of the curve that has also become attractive in euros — and the Inter-American Development Bank is coming at the short end.
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Turkish bank refinancing activity has ramped up, with Ziraat Bank signing its $1bn syndicated loan on Monday after Yapi Kredi sent out a request for proposals (RFP) at the end of last week.
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Acetow, the cigarette filter maker Blackstone is carving out of parent Solvay, has launched €630m-equivalent of loan facilities for the buyout, four months after it was announced.
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Aston Martin, the UK luxury car maker, made savings of up to 400bp on Friday as it wrapped up its latest bond refinancing bond. Investors came along for the ride but found it a bit of a squeeze.
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Micro Focus, the UK legacy software firm, has launched the $5bn loan to finance its acquisition of Hewlett Packard Enterprise’s software business — the biggest new money loan in the European leveraged loan market this year.
