Bank of America
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Polish energy provider Energa SA is meeting investors this week for its first Polish non-financial corporate bond since June last year, which will also be the first corporate deal from anywhere in Central and Eastern Europe this year. -
India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.
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Chinese borrower United Photovoltaics Group is back in the dollar debt market for more, opening a tap of its debut three year notes on Monday morning.
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Reckitt Benckiser, the UK based health and hygiene firm, is progressing with its approach to buy US-based Mead Johnson Nutrition, with loan deals taking shape and the boards of both firms having waved through the $17.9bn transaction. The margins for Reckitt’s loans are “record low”, loan bankers involved in the transaction said, as investment grade borrowers bathe in bank liquidity.
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Japan Bank for International Cooperation (JBIC) made a rare appearance in three year dollars this week, opening the way for its peers to follow. But there is little in the dollar pipe from Japanese or any other SSA issuers — all of which are well funded — after a week when US rate expectations were jolted by comments from Federal Reserve chair Janet Yellen.
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Reckitt Benkiser has invited as many as 30 banks to participate in a $21bn loan deal, as its all-cash acquisition of US-based Mead Johnson takes shape.
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Reliance Infrastructure has begun gauging investor appetite for a potential Rp30bn ($448.1m) IPO of its infrastructure investment trust, according to a banker familiar with the matter.
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The repricing train steams on in European leveraged loans, although several buyouts are coming down the track, offering new paper and the promise of some yield to desperate investors.
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KfW sold its second euro benchmark of the year on Tuesday, scoring €5bn at the difficult 10 year area of the curve in what a banker away from the trade called “a positive sign for the market”.
