Barclays
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Four Chinese property companies raised $2bn between them from dollar bonds on Monday, coming at a particularly turbulent day for markets globally as fears rise around the rapid spread of Covid-19 outside of the Mainland. -
CPPIB Capital, which mandated banks for a five year benchmark on Friday, has postponed the deal in the face of a hostile market rocked by volatility engendered by the Covid-19 coronavirus outbreak.
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Spain has announced another trip to the ultra-long end, electing to come to market in spite of volatility sparked by increased fears around the spread of coronavirus.
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Three Chinese issuers visited the dollar bond market on Thursday, raising $1.2bn between them.
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BNP Paribas this week set a new record low for an additional tier one (AT1) coupon issued from a European bank in the dollar market, raising $1.75bn amid heady demand for the product. Iceland’s Arion Bank was also in the market, chipping in with a $100m deal ahead of beneficial domestic tax changes.
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US bond market tourists poured into high grade euros this week, where tiny concessions and a cheap overall cost of funding saw a string of successful trades.
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Ontario Teachers’ Finance Trust has chosen four banks to organise a series of meetings with euro fixed income investors, ahead of what will be the issuer’s first bond in the currency.
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BPCE raised senior bond funding in sterling on Thursday, making use of constructive conditions in the currency. The lender launched its deal at a spread that, on an after-swap basis, was roughly in line with where it could have landed in euros.
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Intesa Sanpaolo chose to split an additional tier one (AT1) deal into two tranches on Thursday, with one eye on the secondary performance of the bonds and the other on the maturity profile of its debt capital stock.
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Chinese corporations bombarded investors with new bond options on Wednesday, allowing three issuers to raise $625m between then. Hong Kong-based asset manager ESR Cayman joined the fray in Singapore, grabbing S$225m ($161.55m).
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A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.
