Bank of America
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Chilean power company E-CL opted not to issue a planned bond on Thursday as LatAm DCM and syndicate bankers said they would be in no rush to issue during periods of volatility.
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UK electronics components distributor Premier Farnell has completed a £250m amendment and extension of its loan facility, after refinancing its US private placement in August. -
Asian insurers are making their presence felt in the international debt market after Korean Reinsurance (Korean Re) became the fourth name to issue a bond in six weeks. While market participants are quick to point out that the deals are unrelated, they predict more is coming from the sector as Asia makes the step up to Solvency II, write Virginia Furness and Rev Hui.
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Bank of America has managed to beat analysts’ expectations and post a third quarter profit of $168m, which compared to a figure of $2.5bn from the same time last year. Once again, the beleaguered bank has had to put huge conduct charges through the quarter's P&L.
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A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads. The money will be used to refinance the outstanding portion of the debt Tata took to fund its acquisition of Europe’s Corus Group.
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Bank of America Merrill Lynch has hired from within for the newly created role of head of southeast Asia equity capital markets in Singapore. The promotion adds to the bank’s Asian ECM senior management team.
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Chilean power company E-CL will decide on Thursday morning whether to announce its planned dollar bond issuance, after a remarkable bout of volatility on Wednesday disturbed fixed income markets.
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On an extraordinary day in the capital markets, a very ordinary corporate bond was issued on Wednesday — a €500m 8.5 year issue for Snam, the Italian gas transport group, that was nicely oversubscribed and closed trading at reoffer.
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Subordinated perpetual bond issuance from Asian insurers is on the increase with a second insurer looking to follow Korean Reinsurance to the market next week. The low rate environment is proving conducive for high beta products like sub perps, according to bankers.
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E-CL, the largest power generator in the north of Chile, finishes the roadshow for its dollar bond on Wednesday.
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A portion of Tata Steel’s $5.6bn borrowing, which has been in senior syndication since July, finally launched into general on October 13, with five banks joining the original 11 leads.
