Barclays
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Barclays has hired Paolo Minerva from Bank of America Merrill Lynch as head of sourcing for its European distressed debt business. -
NRW.Bank has announced a three year dollar benchmark, picking banks for what looks to be this week’s only supply, according to one head of SSA syndicate away from the trade.
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British American Tobacco is expected to bring the week-long run without any new corporate bond issuance to an end later this week. The UK based tobacco company could issue in dollars, euros and sterling.
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Anglian Water’s £250m eight year green bond was the only corporate new issue that priced this week. If there is to be any issuance next week, it is expected to be in sterling.
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India's Vedanta Resources extended its maturity profile further this week with its second tender plus new money deal of the year. The issuer opted for size over price, leaving a little something on the table for investors.
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Indonesian power producer Paiton Energy added a hefty $2bn to its coffers on Thursday, selling a dual-tranche bond that won over investors because of its diversity benefits and secured structure.
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Canara Bank priced a $400m five year senior bond on Thursday, marking the second dollar deal from an Indian bank in a week.
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Barclays said in its second-quarter results that it would redeploy capital from parts of the corporate bank into markets, reversing the course many banks have taken since the crisis, and affirming the bank’s ambitions as a top-tier fixed income trading house.
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If you’re a bank chief executive under pressure from shareholders this is the playbook: first, lower expectations and provision everything; second, raise some capital and set out a path to future success. Only then do you try to make some actual money.
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Public sector issuers are taking advantage of strong summer conditions in the dollar market to bring green and arbitrage-style deals, with more issuance expected next week.
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Canara Bank is offering investors starved of paper from India’s FIG sector something to feast on, marketing a senior five year bond on Thursday.
