Barclays
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US corporates leapt on the chance to print euros this week, with Honeywell, Berkshire Hathaway and Schlumberger all finding plenty of demand in the currency. -
Relx, the UK specialist publisher, reopened the European corporate bond market on Tuesday after more than a week without any benchmark issuance. It was a convincing €2bn issue, but Relx had to pay double digit new issue premiums.
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Activist investor Edward Bramson has called on Barclays not to renew chief executive Jes Staley’s contract over his links with dead sex offender Jeffrey Epstein. He also questions the bank’s corporate broking relationship with JP Morgan.
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A managing director in Barclays' investment grade bond syndicate team in New York is set to leave the bank.
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Zhejiang Geely Holding Group Co netted $400m from its bond sale on Thursday, as the market battled falling sentiment.
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Guarantor: CPP Investment Board (CPP Investments)
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Unédic was almost three times covered for a 10 year bond on Thursday, with the leads pointing to the relative value of the trade and the quality of name as the factors behind its success against a difficult market backdrop.
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Conditions are changing so fast with the coronavirus epidemic that each day could bring a change in sentiment, but for the time being leveraged finance is staying calm and continuing to function. There is more activity in this high risk corner of Europe’s capital markets than in any other, apart from sovereign, supranational and agency bonds.
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CPPIB Capital came to market for a dollar benchmark on Wednesday, after mandating the deal last Friday. The trade had been postponed to avoid printing in the peak of the volatility sparked by the worsening Covid-19 outbreak.
