Bank of America
-
Sberbank printed $1bn of subordinated debt at a price that three syndicate managers away from the deal called "very aggressive". But after being priced at par, the note was trading at 99.75-100 on Wednesday morning, indicating that the leads were right to push it. -
Caribbean hotel operator Playa Hotel & Resorts tapped its Caa1/B rated bonds well above par on Tuesday, showing that appealing to the US high yield community can outweigh EM investor scepticism for some borrowers.
-
ING followed Swedbank into the tier two market on Tuesday, printing a tight €1.5bn 12 year non-call seven deal as tier two debt stole the limelight from senior unsecured for the first time this year.
-
Sberbank has released price guidance of 5.625% for a 10 year non call five subordinated deal that bankers away from the deal are calling a “fair” level. But market participants on and off the deal say that the clarification of point of non-viability language has made little difference to the pricing of the bond.
-
Peruvian lender Interbank will meet investors this week ahead of a potential senior unsecured bond as LatAm DCM as the market reaches the end of a period of blackout periods for issuers.
-
-
-
Upgrades and positive outlooks flooded in for Mexican issuers this week after the sovereign’s upgrade to A3 from Moody’s on February 5, but EM bond investors are struggling to take advantage as they say paper from the region is scarce.
-
Sberbank is targeting a 10 year non-call five deal or a 10 year bullet note for its subordinated bond, but would prefer the former, according to a source close to the deal. The note is expected to be priced later this week, with Sberbank’s roadshow finishing on Wednesday.
-
One of Europe’s most frequent high yield issuers, Fresenius, is back in the market. The German healthcare business wants to sell its fifth transaction of the year — this time in dollars.
-
Sberbank is roadshowing a tier two bond in the US and Europe from Monday to Wednesday next week and could become the first bank to try to issue under Russia’s updated Basel III framework for subordinated debt.
-
Sberbank is roadshowing a tier two bond in the US and Europe from Monday to Wednesday and will try to issue under refined documentation language with regards to Russia’s Basel III framework for subordinated debt.
