Barclays
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Nicolas Paquet will join UBS in the autumn as part of the bank's France team. -
Tesco Personal Finance ratcheted in the pricing on its debut senior unsecured bond on Thursday, starting with a high new issue concession but bringing it in by 35bp amid hefty investor demand.
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Left lead Barclays dropped the floating rate sterling tranche from the high yield bonds for Domestic & General’s fundraising to refinance old debt and pay a dividend to its old owners, replacing it with a smaller euro floater and a large fixed-rate issue.
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A busy day for bond issuance from Chinese property companies offered investors a dash of variety, as investment grade rated China Jinmao Holdings Group vied for attention amid a slew of deals from high yield credits including Kaisa Group Holdings.
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India’s Adani Ports and Special Economic Zone has bagged $650m from 144A/Reg S bonds to fund a tender offer of notes due next year, pricing the new issuance at a competitive level.
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The European Investment Bank mandated banks for a sterling tap on Tuesday to keep supply running on course for a record year in the public sector bond market.
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Greece took advantage of a significant rally in its government bonds to lock in its lower ever cost of funding on Tuesday.
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Norway’s Yara has signed a $1.1bn-equivalent revolving credit facility, with the fertiliser company swapping its existing bank debt for a sustainability-linked deal.
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Heavy bond supply last week from Chinese property developers took a toll on Fantasia Holdings Group Co, which failed to tighten pricing on a $200m bond on Monday. But China Hongqiao Group, an aluminium maker, found solid response from investors due to a lack of issuance from industrial credits.
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Real estate investment trust (Reit) Fibra Terrafina sold $500m of 10 year bonds on Monday, with hefty tightening allowing the borrower to price closer to its largest Mexican rival than expected.
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Greece picked banks on Monday for its third syndicated bond of the year as the sovereign looks to take advantage of a sharp rally in its yields to fund an early repayment of loans to the International Monetary Fund.
