Bank of America

Carnival, the Anglo American cruise company, has launched a €600m 10 year trade, with the corporate bond pipeline filling fast.

Morgan Stanley posted fee growth in underwriting and advisory in its third quarter results on Thursday, leaving Goldman Sachs the outlier among the five big US banks in seeing revenues fall in investment banking.

E.On and Engie pushed ahead with tightly priced deals on Thursday, easing concerns from earlier in the week that ZF Freidrichshafen’s widely priced bonds would create a new level for issuance.

A sharp rise in advisory and debt underwriting revenues drove Bank of America’s investment banking in the third quarter, its results showed on Wednesday.

VodafoneZiggo, the Dutch telecoms joint venture evenly split between Liberty Global and Vodafone, is raising €3.1bn in fresh capital. It joins industry peers such as Salt, Wind Hellas and Altice France who have rushed to the market this autumn to take advantage of favourable conditions.

Powerlong Real Estate Holdings pulled off a top-up placement on Monday night, raising HK$791.6m ($100.9m) after pricing the deal toward the bottom of guidance.

Germany’s ZF Friedrichshafen set final terms on a multi-tranche €2.7bn bond on Monday, with the car parts maker seeing far more demand at wider spreads than where it raised a similar amount in the Schuldschein market in recent weeks.

The six biggest US investment banks alongside three European firms have created DirectBooks to assist primary market bond sales. It aims to start in the US investment grade corporate market before branching out to other fixed income products.

Yankee banks took advantage of a strong market backdrop this week ahead of US third quarter earnings season, with Canadian banks leading the charge.

Investors flocked to Thai Oil Public Co's 30 year bond this week, seizing the opportunity to get yield from a long-dated note.

Nexi, the Italian payments company, is marketing a dual-tranche refinancing bond, its first issue since it floated on the Milan Stock Exchange in April. With Advent, Bain Capital and Clessidra now mid-way through realising their investments, the company is changing its approach to the debt markets, switching to unsecured bonds and giving up callability.

Indian telecommunications company Bharti Airtel’s efforts this year to deleverage were capped with the issuance of a subordinated perpetual $750m bond on Tuesday. The deal, alongside further stake sales planned for the rest of 2019, puts the company on track for a more stable debt profile. Morgan Davis reports.