Bank of America
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Eurazeo sold a 7.8% stake in Moncler, the French-Italian skiwear maker, through an accelerated bookbuild over Wednesday night. The book was covered, though price information suggested Bank of America Merrill Lynch had sold the block at below the underwritten price. -
The Asia Pacific Loan Market Association has elected a new board of members to lead the industry body.
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Archroma, the Swiss colour and speciality chemicals company, is sounding out early bird lenders for a $404m loan that will fund an acquisition and refinance debt.
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China Minsheng Banking Corp (CMBC) Hong Kong and Agricultural Bank of China (ABC) New York have opened books to debut dollar notes on May 14, a week after China Merchants Bank (CMB)’s New York made a debut on the back of strong demand.
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Acromas Bid Co sold a £239m stake in UK insurance provider Saga on Tuesday evening, giving investors a rare chance to buy a chunk of shares in the company.
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A pair of SSAs printed dollar benchmarks at the short end on Wednesday — a choice likely to be followed by another issuers in the currency next week.
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Weak German GDP figures helped drive a bid for Bunds on Wednesday morning, bringing a degree of stability after two weeks of volatility in eurozone government bonds.
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A government guarantee helped Trade and Development Bank of Mongolia (TDBM) make a strong return to the market with a $500m bond this week. A triple digit premium over the sovereign was not enough to entice most Asian investors to the trade, but European and US accounts lapped it up.
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A pair of highly rated SSAs are set to dip into dollars on Wednesday, after two issuers had contrasting fortunes in the market on Tuesday.
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The pipeline for corporate bonds is swelling rapidly, with three issuers mandating for European roadshows on Tuesday, including two from the eurozone’s periphery.
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Trade and Development Bank of Mongolia launched a five year deal on Tuesday, May 12 in what is likely to be a real test of demand for high yield credits in Asia.
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Brazilian cement company Cimento Tupi has missed a payment on its $185m senior unsecured notes due 2018 just eight months after tapping the bonds for a further $35m.
