Barclays
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South African state-run power company Eskom is aiming to print a total of $1.5bn and is expecting to sell both guaranteed and unguaranteed tranches of its bond, according to two sources close to the deal. -
Gansu Provincial Highway Aviation Tourism Investment Group, a Chinese local government financing vehicle (LGFV), secured a $350m bond on Thursday, proving that not all LGFVs are locked out of the dollar market.
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Public sector borrowers could beat the summer slumber if they bring dollar deals, said SSA bankers — and they may be rewarded for doing so, with conditions unlikely to be able to get better than this week’s.
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Sterling issuance from public sector borrowers outside the UK is still on course for a record year — helped in no small part by a supranational printing its largest ever syndication in the currency this week.
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Fannie Mae on Thursday ensured its name would be included in future financial textbooks on the replacement of Libor as it priced the first ever floating rate notes linked to the new Secured Overnight Financing Rate (SOFR), drawing a wide range of investors from money funds to state treasuries in the process.
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Barclays has hired a former Deutsche Bank senior FX boss as its new global head of G10 foreign exchange trading and distribution.
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Reliance Industries has made a quick return to the offshore loan market with a $2.7bn refinancing deal, having picked 17 banks to act as mandated lead arrangers and bookrunners.
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Public sector borrowers could break the traditional summer silence over the next couple of weeks if they react quickly to sterling interest, said one of the leads on this week’s comeback in the currency by the European Bank for Reconstruction and Development.
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The International Finance Corporation on Tuesday brought the tightest priced five year dollar benchmark in three years, at a level that bankers said looked in line with the supranational’s curve. Despite the measly spread over swaps, higher outright yields likely helped buoy demand.
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Connect Plus (M25), the project company that manages the M25 motorway around London, has priced its first public bond issue, for £893m, to unwind interest rate swaps from 2009 and refinance part of a £1bn loan.
