Barclays
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Bharat Petroleum Corp (BPCL) took advantage of the new guidelines from India’s central bank to roll out a three year bond, opting for a maturity it was previously blocked from tapping. -
Dollar SSA issuance picked up in earnest this week after a slower than usual start to the year, with a rich variety of borrowers printing deals, some in record size or with record books. Conditions are such that SSA bankers are confident supply will keep coming and demand stay high for the next few weeks — cheering news for one sovereign issuer looking to make a comeback in the currency.
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A record start to the SSA sterling market came to a halt early this week, with borrowers avoiding prints as the UK Parliament delivered a historically large defeat to the government over its planned withdrawal agreement with the European Union. But once the big risk of the event was out the way, supply picked up — although with Brexit’s direction as uncertain as ever, further blocks to issuance are likely.
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Barclays has made cuts across its debt capital markets business, with staff put at risk including several long serving bankers who have been with the firm for over a decade.
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Agence Française de Développement (AFD) this week sold its largest ever benchmark as it tackled an increased funding programme that will grow further in the next few years. That means the issuer will look to bring big trades again — as well as potentially growing its presence in the privately placed MTN market.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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Bank Nederlandse Gemeenten received its biggest ever order book in euros for a 10 year benchmark on Thursday, allowing it to print its biggest size in the currency since 2016.
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London-listed RDI REIT has refinanced a sterling club loan, pushing out its average maturities amid a flurry of refi activity in the European loan market.
