Barclays
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Tim Throsby, the former JP Morgan equities head who recently joined Barclays as chief executive of its corporate and investment bank, has made his first major appointment, asking Art Mbanefo, head of EMEA and APAC markets, to take on a new role spanning treasury, capital management, and client-facing markets roles.
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International borrowers made good use of sterling this week, finding value in the market despite risks around the UK budget and the government's intention to trigger Article 50 later in the month.
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Countrywide, the UK estate agency group that owns Hamptons International and listings website Rightmove, raised £37.8m of new equity in an intraday sale on Thursday to strengthen its balance sheet after a drop in profits. -
Export-Import Bank of China managed to achieve the lowest spread for a euro bond from a Chinese name this year with its three year in the currency, part of a $3bn-equivalent Reg S deal.
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Toronto Dominion had less luck than its Canadian peers when it issued the third sterling Canadian covered bond of the year this week. Even though the transaction offered a hefty concession there was only sufficient demand to issue in half the size of the previous deals.
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Ocelot Partners, a special purpose acquisition company founded by LionTree Partners, Andrew Barron and Martin Franklin, this week successfully completed its $425m IPO on the London Stock Exchange.
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Eros International failed to price its new dollar bond on Tuesday, as the high yield market stuttered and investors pushed back on pricing for the Indian film maker’s international debut.
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Export-Import Bank of China made a strong comeback to the Asia debt market on Tuesday with a $3bn equivalent three tranche dual-currency Reg S deal. Its three year euro bond achieved the lowest spread in the currency from a Chinese name this year.
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Multilateral development banks will focus more on providing credit enhancement and support to help small, emerging market borrowers bring their green bonds to market, according to the head of climate change at the European Investment Bank. Meanwhile, a French region visited the green market on Tuesday.
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The European Stability Mechanism returned to stellar form this week, hitting the sweet spot for euro demand and exceeding its first quarter funding target. Bpifrance Financement will look to follow up the supranational’s success on Wednesday.
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Enticing conditions for Yankee issuers in the dollar market allowed HSBC to raise $5bn of holding company level senior debt in its first major deal of the year on Monday, and allowed BNP Paribas to brush aside any nervousness about the French elections for $1.25bn of tier two capital.
