Bank of America
-
Syndicating a reopening of a 55 year bond in a month where sterling was shaken by volatility could have been tough for the UK Debt Management Office this week. But it passed the test with flying colours, attracting its largest book ever on an ultra-long syndication and breaking the 3% yield bogey for the first time.
-
The US investment grade corporate bond market barely blinked this week when the US Federal Reserve called time on quantitative easing. Companies hit the market ahead of what is expected to be a bumper November for new issuance. -
The highlight deal of the week in Europe’s corporate bond market was Hutchison Whampoa’s €1.5bn seven year issue on Tuesday — part of a bigger deal that also involved three and 10 year dollar bonds totalling $3.5bn.
-
The $500m five year, non-callable senior bond Jaguar Land Rover sold on Tuesday began trading up at 100.75, gathering investor interest in a market environment that “is only now becoming more stable”, said the company’s treasurer.
-
The Shanghai-Hong Kong Stock Connect initiative, also known as the Through Train, this week missed its widely expected October 27 launch date. The Hong Kong Stock Exchange (HKEx) said on October 26 that the programme was ready to go, pending final approval from Hong Kong and Chinese regulators.
-
Hutchison Whampoa showed off its impeccable access to bond markets, rewriting the record books and selling $5.4bn worth of dollar and euro bonds on October 28 in what is the largest corporate offshore deal to come out of Asia ex-Japan.
-
Korea Expressway pulled its dollar bond before the US open on October 27 after it realised it was not going to achieve its target price. Bankers were frustrated and said that a decent trade could have been done at a higher yield, but the issuer was not willing to pay up.
-
Chinese casual restaurant chain, Xiabuxiabu, has filed a preliminary prospectus with the Hong Kong Stock Exchange. The company aims to raise between $100m and $200m, a banker close to the deal said.
-
Chilean copper Codelco led the way on a busy Tuesday in LatAm bond markets with a 30 year issue that came tight to its own curve and showed that investors are comfortable the US Federal Open Markets Committee will not spring any surprises regarding rates increase at its meeting on Wednesday.
-
Hutchison Whampoa showed off its impeccable access to bond markets today by selling dollar and euro bonds in the same day, and raising $5.4bn with heavily oversubscribed books.
-
The UK Debt Management Office was able to attract its largest order book in an ultra-long syndication during an hour long book build on a tap of the 2068 Gilt — despite the tap coming at a sub-3% coupon and following weeks of volatility in the Gilt market. The deal leaves the UK DMO with one syndication left this financial year.
-
