Banks
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A pair of investment grade issuers made rare appearances in niche currency bond markets this week. Deutsche Telekom returned to the Swiss franc market after a 10 year absence, while Hitachi Capital UK made its debut in rand. -
Credit Suisse has streamlined its investment banking and capital markets operation (IBCM) and is confident that it will return to form after a chastening 2019, writes David Rothnie.
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Southeast European telecoms group United Group, a BC Partners and KKR portfolio company, is marketing an all-bond financing package for its takeover of Bulgaria’s Vivacom, marketing new senior secured bonds and an add-on to its existing 2025 PIK notes.
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The Council of Europe Development Bank sold a rare seven year sterling benchmark on Thursday, as issuers go further along the curve in the currency to avoid an unattractive cross currency basis swap at the short end.
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Banca Monte dei Paschi di Siena wrapped up its second deal of the month on Tuesday, capping off a busy period for Italian deal flow in advance of important regional elections.
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Two supranationals hopped into the Kangaroo market with environmental, social governance (ESG) bond taps this week, in a move that is becoming increasingly popular. With a local holiday this weekend marking the end of antipodean summer, bankers expect Australian dollar issuance to restart in the next few weeks.
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Three CEE banks announced new bond issues this week. Armenia's Ardshinbank has printed a $300m five year bond, Credit Bank of Moscow sold a $600m five year and Sovcombank, another Russian bank, has released plans for a roadshow.
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UK defence company BAE Systems announced its biggest acquisition for more than a decade this week, spurring hopes for a wave of UK M&A now the Brexit endgame is in sight.
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Three CEEMEA sovereigns — the Kingdom of Saudi Arabia, Romania and Ukraine — joined a market this week gripped with a frenzy of new issues. All three deals went well and drew praise and attention in their own rights.
