Bank of America
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Banca Monte dei Paschi’s shares leapt 7% on Wednesday morning, on growing hopes that a way will be found for the Italian state to strengthen its balance sheet, enabling it to achieve a €5bn capital raising demanded by the European Central Bank and avoid a bail-in.
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Five lenders have joined HSBC at the top level of Saudi British Bank’s (SABB’s) $450m syndicated loan, the bank’s first dollar deal from international lenders. -
Bank of America Merrill Lynch’s head of investment banking in Hong Kong has left after two decades at the firm to join UBS, according to a source close to the matter.
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Catalent Pharma and Thomas Cook — a reverse Yankee issuer and a UK holidays operator — on Thursday released guidance for high yield deals amounting some €900m in a market that has been mute since November 15.
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The Republic of Indonesia has reopened the G3 emerging market sovereign bond market, printing the first deal since the US election and raising $3bn in a triple tranche issue on December 1.
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The busy equity block trade action in Europe since the US election has continued into its third week, though market participants are beginning to brace for the outcome of the Italian referendum on Sunday.
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Rising inflation expectations, as governments switch their focus to fiscal stimulus and central banks move away from extremely loose monetary policy, are boosting demand for inflation linked bonds. Opec’s agreement this week to cut oil production pushed demand even higher. But there are question marks over whether issuers will adapt their funding menus to satisfy the new appetite, writes Craig McGlashan.
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South Korea's Shinhan Bank raised $500m on Wednesday, to match its March tier two dollar deal in size, but was forced to pay up to make it happen.
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The Republic of Indonesia popped into the market Thursday morning, kicking off December with a new triple tranche dollar deal, the second year in a row it has hit the bond market in the last month of the year.
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Tonight, Apax and Guardian Media Group are selling another 15% of Ascential, the UK events and publishing company, while Anglo-American is divesting its entire stake in Exxaro, the South African coal miner.
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South Korea's Shinhan Bank opened books to its second dollar tier two deal of the year Wednesday morning.
