Barclays
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CVC flexed its buyout muscles again this week, buying two European tech companies for more than €1bn, while Blackstone has agreed to a joint venture for its recently acquired cigarette filter making business Rhodia Acetow with a unit of US chemicals firm Celanese. -
Two Indonesian financial institutions, Bank Negara Indonesia (BNI) and Adira Dinamika Multi Finance, are scheduled to hit the loan market in July.
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Brightoil Petroleum (Holdings) is marketing its maiden international bond, while Gome Electrical Appliances Holdings is taking bids for a tap of notes printed earlier this year. China Gold International Resources Corp, meanwhile, is meeting investors later this week for its second offshore outing.
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Compass Group, the UK food service group, offered investors a choice of main courses on Monday, combining a €750m seven year bond with a £300m 12 year. Demand was plentiful for both and the new issue premia were minimal.
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Cyprus, entering an otherwise quiet market, has picked banks for a seven year euro benchmark to be sold on Tuesday.
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India’s Adani Ports and Special Economic Zone is gauging investor interest this week for a new 10 year bullet, less than a month after its board approved an up to $1.5bn debt-raising.
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European corporate bond markets have quickly shrugged off the uncertainty surrounding the UK election result and central bank meetings, and look set for a busy end to June.
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Remarkably supportive conditions in the euro market allowed some rare SSA names to pull off strong deals this week, including a debut in the currency and a return from a two year hiatus.
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ALD, the car leasing division of Société Générale, priced its €1.15bn Paris IPO near the bottom of its initial range on Thursday.
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It is often suggested that issuers have to pay up for issuing sub-benchmark sized deals. However, this week two corporate issuers printed successful €300m transactions with little discernible premium compared to benchmark transactions.
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US telecoms company AT&T returned to European markets on Wednesday with a £1bn September 2037 bond, as it followed up a €7bn multi-tranche deal it sold just a week earlier.
