Bank of America
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Nordic Investment Bank has printed the second dollar benchmark from an SSA this week, as issuers contend with the effects on pricing of negative swap spreads. -
High yield bankers insist that the European market will not be paralysed by some of the banks holding debt they have been unable to sell, even after the failure of last week's €1.55bn financing for LeasePlan.
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Groupe Bruxelles Lambert, the Belgian investment holding company, took advantage of Total’s strong market performance on three consecutive days to sell €651m of stock in the French oil and gas company on Tuesday night.
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The long wait for a European block trade ended on Tuesday night, as a shareholder in Total sold €651m-worth of stock in the French oil and gas business, sparking hopes of further ECM deals in coming days.
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The Asia ex-Japan bond market finally saw some primary activity on Wednesday with the Republic of the Philippines set to be the first sovereign issuer of the year. The country launched a new 25 year bond and is giving investors the option to switch out of 16 outstanding deals at the same time.
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A protracted slump in equity markets has pushed some risk measures in the US and Asia to extremes.
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Austria has printed €5bn in a dual tranche issuance, pricing in 10 and 30 year tenors as the sovereign took advantage of a window of opportunity arising from a rally in global equities.
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A $1.775bn loan for ONGC Videsh, the international arm of India’s Oil and Natural Gas Corp, has attracted commitments from just two lenders in syndication, with the deal due to close by the end of this week.
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Carnival Corporation, the US cruise ship operator, returned to the euro bond market for the second time in under four months with a €500m five year deal on Monday.
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HoneyWell International took the earliest possible moment to issue its first euro denominated bond since 2001, bringing a €4bn four tranche offering to market.
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Austria is to print a 10 year benchmark as investor sentiment rebounded after a torrid time last week as BNG priced a seven year bond.
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Delta Lloyd, the Dutch insurance company, is facing opposition to its planned €1bn rights issue - more than the company is now worth - from as many as a third of its shareholders.
