Barclays
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Corporate bond deals are often executed on Fridays to give issuers some space in crowded weeks. However, Friday was one the busiest days of this week, with both euro and sterling investors offered long dated deals to consider. -
China National Chemical Corp (ChemChina) has approached banks for a $5.5bn two tranche borrowing to help refinance a $12.7bn acquisition loan signed last September.
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Northrop Grumman and Wal-Mart printed the biggest deals in their history as event-driven dollar bond supply roared back to life following the Columbus Day holiday.
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Swiss food and drinks company Nestlé extended and replaced €11bn worth of one and five year loans on Wednesday.
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The European Investment Bank shrugged off any concerns over the divisions between the governments of Spain and Catalonia and the skinny spreads on offer, printing $3bn at one of the tightest spreads of the year.
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After a successful two week investor education process, Bawag, the Austrian bank, has unveiled the terms for its IPO on the Vienna Stock Exchange, which could value it at up to €5.2bn if it is priced at the top of the range.
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Frequent issuer Tewoo Group is readying a comeback to the offshore bond market. It has mandated firms to arrange a roadshow at the end of the week.
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Buoyed by low volatility, record high share prices, and a risk-on attitude among investors, Europe’s booming market for IPOs gained three more deals on Tuesday when Bakkavor, HelloFresh and M7 Multi-Let Reit all announced their intentions to float.
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The European Investment Bank (EIB) and the German State of North Rhein-Westphalia (Land NRW) have picked banks for dollar benchmarks expected to hit the market on Wednesday.
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Both the European Financial Stability Facility (EFSF) and Dexia Crédit Local were able to take advantage of a strong market and cut 3bp from the spreads paid on their euro benchmarks on Tuesday.
