Bank of America

The first full year results for the major US investment banks show that little changed in Q4 — litigation costs and poor trading revenues, particularly in fixed income, are still causing most of the pain.

Dutch cable company Ziggo accelerated its dual currency bond issue to price it on Wednesday after its sister company, Virgin Media of the UK, had sold the first bond of a restructuring plan involving four Liberty Global cable subsidiaries.

Enel, Italy's leading power company, announced on Wednesday that it would issue a benchmark 10 year bond in an exchange offer for up to €5.5bn of existing bonds, as part of a liability management exercise. The transaction is meant to extend Enel's maturity profile.

After a flurry of mid-market leveraged financings, investors are now preparing for the first large cap deal of the new year. SIG Combibloc, the Swiss drinks carton maker, has invited lenders to bank meetings in London and New York.

A HK$55bn ($7bn) bridge loan for Cheung Kong Property, newly-formed from the consolidation of the property businesses of Cheung Kong Group (CK Group) and Hutchison Group, will be syndicated by the two banks supplying the funds.

Export Import Bank of Korea (Kexim) staged a successful return to the international debt market on January 12, selling a SEC registered dual tranche deal that drew over $6bn of demand. Amid high levels of volatility since the start of the new year, bankers chose a good window for the Korean issuer, which achieved its goals for size and pricing.

Investment grade corporate bond issuance soared on Wednesday with a €1.75bn ($2.03bn) dual tranche deal from Toyota Motor Credit; benchmark bonds from Iberdrola and Evonik; and debuts from US Reit WP Carey, and UK charity the Wellcome Trust. In total, €4bn of bonds were issued.

Bank of America Merrill Lynch, JP Morgan and Morgan Stanley traded on Wednesday evening a block of shares in Spire Healthcare Group, the UK private hospital company.

Dutch cable company Ziggo accelerated its €730m-equivalent dual currency bond and priced it today, after its sister company Virgin Media had yesterday priced tighter than guidance the first bond of a restructuring plan involving four Liberty Global cable subsidiaries.

Cheung Kong Property, a newly formed entity that will emerge from the consolidation of the property businesses of Cheung Kong Group (CK Group) and Hutchison Group, will syndicate an HK$55bn ($7.093bn) bridge loan that is being supplied by two banks.

Mexico reaffirmed its status as one of the best EM borrowers on Monday after raising $2bn of new money and refinancing a further $2bn through an ambitious dual-tranche switch trade on another rocky day for markets.

Export Import Bank of Korea (Kexim) staged a successful return to the international debt market on Monday, January 12, selling a SEC registered dual tranche deal that drew over $6bn of demand. Amid high levels of volatility seen since the start of the new year, bankers carefully chose a good window for the Korean issuer, who achieved both its size and pricing goals.