Bank of America
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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. -
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.
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German semiconductor maker Infineon has signed €1.55bn of loans which will go towards its $3bn purchase of California-based International Rectifier Corp.
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Rongshi International Holding Company has launched its $150m offshore debut into limited syndication, with two banks at the top.
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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 hire beefs up the bank’s Asian ECM senior management team.
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Venezuela has begun to pay the $4.5bn in debt maturity payments owed by the sovereign and by oil company PDVSA. But while bondholders may breathe more easily, analysts say devaluation is needed urgently as the country continues to suffer excess demand for dollars.
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Latin America’s debt bankers believe that periods of volatility caused by US interest rate rises and secondary market illiquidity will not derail the stomping progress of the region’s cross-border bond market, which is set for another record-breaking year.
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