Barclays
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On Tuesday, Telefonica printed the largest single tranche of the day, with a €1.25bn deal with a January 2028 maturity. Despite competing with three other corporate bond deals in the euro market, the deal built a €3bn order book and printed with a single digit new issue premium. -
On Tuesday, pharmaceutical firm GlaxoSmithKline returned to the corporate bond market for the first time since November 2014, and its rarity value contributed to combined order books of over €5.5bn for the triple tranche deal.
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Europe’s IPO market gained two more deals of very different flavours on Tuesday when Rovio, the Finnish developer of the Angry Birds mobile phone game, and Charter Court Financial Services, the UK specialist mortgage lender, both filed intention to float documents.
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Adira Dinamika Multi Finance has signed up lenders to a $250m borrowing, following a good run in general syndication that allowed the company to hike the loan.
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The European high yield bond market returned from its summer break to €2.8bn of new bond offerings this week, including a sub-benchmark sized note from Delaware’s Kronos International on Monday.
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Weichai Power Co will sell senior dollar perpetual bonds worth no more than the equivalent of €650m ($772m) to help pay off some bank loans taken for the acquisition of shares in Kion Group.
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The European leveraged finance market is set to contend with loan deals approaching €4bn for the start of September. Over half of that is for the German pharmaceutical firm Stada — a deal that could help make funding more expensive for everyone else, writes Victor Jimenez.
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SSAs enjoyed soaring conditions in the sterling market this week after a summer lull, which bankers attributed to a big Gilt redemption and sterling’s weakening against other main currencies.
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A group of institutions working towards a distributed ledger solution for cash settlement has doubled in size, as six global investment banks came aboard this week.
