Bank of America
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With up to $50bn of additional tier one deals expected to hit the bond markets this year, bank funding teams are praying that this evolving but crucial asset class can settle down and help them meet their capital needs. -
Apple may well be the darling of the bond markets but arch rival Microsoft proved that it is still a massive draw when it printed the biggest deal of the year at tighter spreads than its rival.
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Tyco Electronics and Tyco International baffled bankers this week by announcing mandates for euro bonds within days of each other.
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Swedbank on Thursday took to the dollar market to sell the first additional tier one from a Nordic bank with a conversion to equity feature.
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Argentine quasi-sovereigns are continuing to benefit from investor hopes for a settlement between holdout creditors and the government by issuing cross-border bonds — and are helping to alleviate the country’s dollar shortage in the process.
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RAG Stiftung, the German state-backed foundation set up in 2007 to support the environmental transition of the country’s coal mines, issued a €500m exchangeable bond on Wednesday at a negative yield.
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Shares in Aena, the largest airport operator in the world by transit numbers, shot up 20.6% on Wednesday when they began trading in Madrid, as investors, many of them dissatisfied with their shrunken IPO allocations, scrambled for shares in the aftermarket. The shares climbed another 5% on Thursday morning, before sliding back to close at the same level as Wednesday night.
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State Bank of India is expected to hit the market in March for its jumbo Rp150bn ($2.4bn) equity raising, in what would be yet another chunky deal for the country’s ECM market.
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Shares in Aena, the Spanish state-owned airport operator, will begin trading tomorrow in Madrid, after their successful pricing today at the very top of an already raised price range.
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The Spanish government is set to price its privatisation of Aena, the state airport operator, this evening. The flotation of a 49% stake has attracted strong demand and looks set to be a big win for the government, potentially netting it up to €4.26bn.
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Bank of America Merrill Lynch has hired a syndicate banker from RBC Capital Markets to join its Toronto desk.
