Banks

Syndicate bankers are expecting Kangaroo issuance to wane as the Japanese market shuts down this weekend for an extended holiday and Australia’s inflation outlook worsens.

Logicor’s dual tranche issuance received a mixed reception on Thursday, as the European real estate and logistics company reopened an old note and offered investors a new bond as well.

Nomura announced in its results on Thursday that its wholesale business made a loss both in the fourth quarter and in the year as a whole. The Japanese bank is looking to cut back the division.

Switzerland’s Coca-Cola HBC has amended and extended its revolving facility, with the soft drink bottler supersizing its loan to €800m and including a sustainability element.

Santander’s corporate and investment banking division has created a new role to manage all market sales forces around the world and has picked Krishna Murali to do it.

Chinese local government debt issuance ramped up in the first quarter of 2019, with investors at home and abroad more enthusiastic about offshore bonds from local government financing vehicles (LGFVs). But they continue to be selective over which credits they buy — just as more deals are set to be launched, writes Addison Gong.

Svenska Handelsbanken was well received for a new senior unsecured transaction in the sterling market on Thursday, despite having pushed the spread towards a level that some investors might be able to pick up from a covered bond.

John Wood Group, the Scottish oil services company headquartered in Aberdeen, entered the US private placement market late on Wednesday.

The Development Bank of the Republic of Belarus raised $500m with its first ever Eurobond on Wednesday, slicing 25bp off its yield from initial price thoughts.

Saudi Telecom Company is embarking on investor meetings to market a debut benchmark dollar Reg S/144A sukuk. However, investor enthusiasm for Saudi corporate bonds may have been dented as the $12bn bond Aramco printed a fortnight ago remains wide of reoffer.

Barclays beat expectations in fixed income, currencies and commodities trading (FICC), according to its first quarter results announced on Thursday, which it attributed to a strong performance in rates. This helped to offset reduced fees for deals and an equity trading slump, as its corporate and investment bank seeks to provide the return on capital in the face of shareholder pressure.

Two companies could bring some life to Latin American bond markets on Thursday amid a quiet period for new issues despite apparently supportive conditions.