Bank of America
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Asian issuers have been rolling out hybrid securities during recent months as the low interest rate environment and strong investor appetite for the region create a conducive setting for corporate capital transactions. -
Oversea-Chinese Banking Corporation (OCBC) printed its second Basel III bond in a little over two months on Thursday. The Singaporean bank is the first southeast Asian lender to tackle a 10 year bullet structure for a dollar new style tier two.
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China’s Tianhe Chemicals Group priced its HK$5.08bn ($658m) IPO close to the bottom of its indicative price range on June 13 as investor interest differed greatly between institutional and retail accounts.
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Issuers benefited from ideal market conditions for senior unsecured trades this week, with spreads rocketing inwards following the European Central Bank’s decision to cut rates last week. While the sharpest part of the rally may be over, issuers are expected to enjoy an easy ride for the foreseeable future as syndicate bankers expect spreads to grind even tighter.
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Dutch coffee company DE Master Blenders has divided its €7.5bn acquisition loan into four tranches.
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Credit Suisse enjoyed tight pricing and heavy demand as investors gobbled up the extra yield offered on its $2.5bn second additional tier one dollar deal.
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All3Media, the UK TV programme producer, has raised an aggressive £400m-equivalent loan package backing its takeover by Discovery Communications and Liberty Global, but left market participants doubting that the deal had generated much enthusiasm among investors.
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A bevy of SSA issuers was able to print dollar benchmarks at tight levels this week, crystallising strong performances seen since the start of the year.
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Dutch coffee company DE Master Blenders has divided its €7.5bn acquisition loan into four tranches.
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Two issuers from the eurozone’s periphery hit the senior market on Thursday despite a halt in the rally triggered by a rates cut from the European Central Bank last week.
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Kookmin Bank will be meeting investors during the next two weeks for a proposed international bond.
