Bank of America
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The public sector dollar market is showing a few signs of life this week as KfW and the European Bank for Reconstruction and Development picked banks for benchmarks, while the Bank of England launched its annual foray in the currency. -
The State of North Rhine Westphalia will sell its third sustainability bond on Tuesday, following a pan-European roadshow.
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Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.
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Hyundai Capital Services opened books for a 144A/Reg S bond on Monday, its first outing this year. Issuers from South Korea have been active in DCM in 2017, but HCS will be the first non-bank financial credit from the country to woo investors.
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Korea National Oil Corp will host a global roadshow next week ahead of a new international bond, to be sold in dollars and/or euros.
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A big step in restoring Italy's banking sector to health was taken successfully this week, when the fifth biggest EMEA equity sale ever raised €13bn for UniCredit.
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The superlatives “fantastic”, “surprising to the upside all the time” and “huge tightening” were being thrown around about the public sector dollar market this week — the only missing ingredient appears to be supply.
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Nederlandse Waterschapsbank on Thursday brought the solitary SSA dollar deal of the week, taking advantage of “fantastic” conditions to raise $1bn of five year cash.
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Rocket Internet, the German internet venture capital group, closed 14% lower on Thursday after Kinnevik, the Swedish investment company that was one of its earliest backers, sold half its stake through an accelerated bookbuild after the stock had rallied over the past three months.
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Finnish technology company Nokia is set to become the first European company to issue a euro high yield bond for four weeks. Meanwhile, UK food producer Bakkavor will repay all its notes.
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Jeanswear maker Levi Strauss priced on Thursday a new refinancing deal in euros, having been absent from the European high yield bond market for seven years.
