Bank of America
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Unédic launched a 10 year benchmark on Tuesday. The deal came in the wake of a televised debate between the French presidential candidates that appeared to restore investors’ confidence in French names, according to an SSA syndicate banker at one of the leads.
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Korea National Oil Corp (KNOC) took advantage of the positive market on Monday to price three $500m tranches of new notes at an attractive price, while still offering investors some cushion on the fixed rate portions.
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Buoyed by relief following a Dutch election in which Eurosceptic Geert Wilders’ hopes of forming a government were dashed, public sector borrowers are flocking back to capital markets.
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Oil products storage and distribution firm Puma Energy is back in the loan market for a two-pronged $570m financing, to extend as well as replace some of its existing debt.
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Korea National Oil Corp (KNOC) is selling a combination of floating and fixed rate bonds, with price thoughts for a five and a 10 year released at the same level. On the high yield side, China’s Shandong Yuhuang Chemical Co is marketing its debut three year notes.
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Pre-marketing for Asian IPOs picked up in earnest on Monday, with Guotai Junan Securities Co’s $2bn listing in Hong Kong among those vying for investor attention.
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E.On, the German electricity and gas company, successfully placed €1.34bn of new equity on Thursday night after announcing earlier in the week that it had made a €16bn loss in 2016 due to a writedown of the value of Uniper, the fossil fuels business it span off last year, and costs related to the decommissioning of its nuclear assets.
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Bank of America Merrill Lynch’s head of southeast Asia FIG investment banking and a managing director in the Asia Pacific financial sponsors group have left.
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South Africa’s Nedbank is dipping its toes into Asian liquidity for a $350m three year bullet that gives lenders the option of committing in dollars and euros.
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Expectations that a bond that already looked expensive will be become even more so helped Bolivia’s new 10 year trade well on the break after coming close to comps on Monday.
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World Bank proved its popularity in the Australian dollar bond market on Tuesday, selling a combination of medium and long dated debt for A$800m ($605.4m) to a wide variety of investors.
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The sterling market was red hot this week with public sector issuers hitting screens in force, despite a headline heavy calendar.