Banks

Shares in Sirius Minerals, the UK firm that is battling to build a mine for polyhalite fertiliser beneath the North York Moors, rallied significantly on Wednesday after the company said it was in advanced takeover discussions with Anglo American.

The 2020 syndicated loan market has made a far slower start to the year than in 2019, with not even $1bn of deals signed globally. Some bankers fear this is set to be another tepid year for European loans.

Green corporate bond investors had plenty to sink their teeth into on Thursday, with electric utlities E.On bringing three tranches and Red Electrica making its debut in the format.

ABN Amro and Deutsche Bank opened books on new senior deals in the sterling bond market, with bankers recognising that the currency is 'working very well' for international names.

Calisen Group, the KKR-backed manufacturer of smart energy appliances, is preparing to raise £300m via an IPO on the London Stock Exchange, having announced its intention to float on Thursday.

The first Kangaroo deals of 2020 from SSAs started trickling through this week, after ANZ blew the doors off the Australian dollar market with a A$3.5bn ($2.4bn) self-led domestic deal on Tuesday.

Crédit Agricole Italia marketed a dual-tranche bond with eight year and 25 year maturities. A steeper curve helped the longer tranche offer a higher pickup against the shorter bond, but investors still placed hefty orders on both tenors.

The State of Israel printed a $3bn dual tranche dollar bond on Thursday from a combined book of $20bn, helping to buoy confidence in the CEEMEA market as US-Iran tensions faded. The bond was Israel’s largest ever deal and its tightest price in terms of spread.

German agricultural machinery firm Claas has entered the Schuldschein market for a minimum of €150m, with one of the deal's tranches not settling until mid-August.

Four issuers landed non-preferred senior deals in the euro market on Thursday, dispelling fears among some syndicate managers that investors’ enthusiasm for the asset class might be beginning to wane.

Axis sells full Syndicate Bank loan — Onfem boosts size to HK$6bn — Indorent closes $175m borrowing with 13 banks — VPBank wraps up $200m facility — Vingroup attracts 14 lenders

Weigao Holding Co has sold a $150m bond exchangeable into the H-shares of Shandong Weigao Group Medical Polymer Co, notching a number of firsts in the process.