Bank of America
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The European corporate high yield market sized up a €1.25bn two tranche deal from Nokia on Monday that became the third biggest high yield bond since August last year. -
Hindalco Industries’ Rp33.4bn ($500m) overnight fundraising was an unqualified success, with some $1.5bn of orders flooding in from global accounts, according to bankers on the trade.
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ICICI Bank made an opportunistic move on Thursday, snagging a 5.5 year bond at the tightest spread for an Indian lender in nearly a decade.
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China South City Holdings raised $300m on Thursday in a deal that was described as relatively straightforward, thanks to the fact that the property developer has already established a debt curve.
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Hindalco Industries’ qualified institutional placement, which launched on Thursday night in India to raise up to Rp33.4bn ($500m), is set to price with no discount to the last close, bankers on the deal said.
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The market for socially responsible investment (SRI) bonds is enjoying a burst of activity, as sub-sovereign borrowers from both sides of the Atlantic hit screens in green.
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Swedish Export Credit Corporation on Thursday added another cracking deal to a super strong week for dollar issuance, as FMS Wertmanagement lined up to take benchmark supply in the currency into Friday.
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Shares in Cobham, the troubled UK aerospace and marine technology company, closed 13% higher on Thursday after the company unveiled its 2016 results and a turnround plan involving a second £500m rights issue in nine months, to strengthen its balance sheet.
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The European high yield bond market has rebooted after a February in which US firms dominated sales, with so many local issuers now coming forward that high yield bankers have started worrying that March could be overcrowded if the entire deal pipeline materialises.
