Barclays
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A cavalcade of “familiar names” have come to the market over the last week. SSAs, corporates and FIG issuers printed across the euro curve, while a trio of supranationals were also active in emerging market currencies. -
Greenko Energy Holdings found ample support for its $950m dual-tranche bond, thanks in part to the duration it offered investors, as well as the positive sentiment surrounding India.
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The State of North Rhine Westphalia mandated banks on Monday for a 30 year euro benchmark, ahead of a highly anticipated European Central Bank meeting later in the week, in which analysts expect the central bank to hint at a rate cut in September.
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Rural Electrification Corp took advantage of strong demand for Indian credits this week, raising $650m despite paying a negligible new issue premium.
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Nicolas Paquet will join UBS in the autumn as part of the bank's France team.
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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.
