Barclays
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Aluminum Corporation of China has re-entered the market with a perpetual non call five dollar bond, opening books on Monday morning. -
Mortgage lender Together on Friday accelerated the pricing of its PIK bond in a sterling market still cautious after last week’s cancellation but geared with a new offering from betting house Ladbrokes.
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National Express, the UK coach operator, tapped the sterling bond market on Friday with a £400m seven year trade that swerved volatility in the Gilt market.
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Interoute, the UK data networks and centres company, has scheduled bank meetings for Monday in London for a €250m seven year term loan ‘B’, to refinance floating rate notes issued last year. Exterion Media has also closed a £150m div recap loan.
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China Development Bank Hong Kong gave investors a dual option on October 27, issuing a five year dollar bond and a three year euro deal, finding space in a crowded market that saw six other trades hit the screens.
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The demand for duration reached fever pitch this week as Austria sold the longest dated eurozone government bond ever and a trio of other public sector borrowers printed their longest dated syndications to date. But that momentum towards length may have been halted by a shuddering sell-off in eurozone and other government bonds on Thursday.
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The UK Debt Management Office laid down a strong marker for its host country with a super smooth syndication on Tuesday that attracted a strong showing from international investors and a record book.
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Pub group Enterprise Inns on Monday and mortgage lender Together on Wednesday launched their new sterling offerings amid growing instability in the market after Daisy, the UK telecom services supplier, pulled its deal last Friday.
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The wrecking of the autumn IPO calendar got worse this week as Misys, the UK banking software company, pulled its IPO, though ConvaTec managed to raise £1.7bn and Ahlsell Skr6bn. Surprisingly, writes Aidan Gregory, further companies are still coming forward with IPO plans.
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Barclays’ quarterly pre-tax profits surged 35% year on year to £837m, thanks to a strong three months for its investment banking division.
