Bank of America
-
The European Central Bank could bring the shorter end of the euro curve back into play for public sector borrowers next week if it opts to cut its deposit rate once again, as super low yields led one market participant to describe a seven year euro benchmark by Finland this week as targeting the “short end” of the curve. Craig McGlashan reports. -
Islandsbanki has become the first Icelandic bank to issue a benchmark bond in euros since the financial crisis.
-
-
Steinhoff completed syndication of $4bn of acquisition loans this week with the deal going “better than expected", according to bankers. The loan market has not shown signs of fatigue for the South African-based furniture retailer, even though the borrower has already asked a lot of the market this year.
-
Five banks raised more than $10bn in the senior unsecured dollar market this week, exploiting strong demand and at spreads that were in line with where covered bonds would have priced.
-
HSBC and Santander UK found strong demand for senior bonds issued from their holding companies this week, revealing an opportunity for more deeply subordinated supply such as Nordea’s tier two benchmark.
-
More than $1.5bn worth of block trades completed within the space of three days this week showed that the summer break in European equity capital markets is well and truly over. The deals included two big Swedish sell-downs by EQT worth more than $500m, and a Sfr539m sale of Straumann Group shares.
-
Malaysian sovereign wealth fund Khazanah Nasional threw open Asia’s equity-linked market this week, issuing a $398.8m exchangeable sukuk to much fanfare. The deal has revived Khazanah’s presence in the market and comes two years after it struggled to pull off a similar transaction. Jonathan Breen reports.
-
Postal Savings Bank of China met with the sponsors of its upcoming $8bn Hong Kong IPO in Beijing on Thursday as the issuer approaches hitting the market, according to a source involved in the transaction.
-
Apax Partners and Guardian Media Group have raised £200m by selling down 20% of Ascential, the British information and events company, via an accelerated bookbuild launched on Wednesday evening.
-
The European Financial Stability Facility has sent out a request for proposals for a bond issue next week, as Finland highlighted how much demand issuers can muster in the euro market — even at yields well below 0%.
-
Banks are signing documents for the $4bn of acquisition loans for South African-based Steinhoff on Wednesday. The deal has gone “better than expected,” according to one lead banker.
