Barclays
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Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way. -
Swedish Export Credit Corporation (SEK) has cancelled plans to sell a tap of its January 2019 global floating rate notes on Tuesday, due to a problem with the documentation for the reopening.
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US coatings manufacturer Axalta priced its $875m dual currency offering on Tuesday as it brought this week’s second cross-border bond, at pre-Brexit pricing levels.
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Advent International this week sold a second chunk of its stake in Equiniti Group, the British payments firm, after the company posted positive half year earnings on Friday.
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A pair of public sector borrowers mandated banks on Monday to run small taps of dollar bonds, a theme that SSA bankers expect to run for the next few weeks.
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Just one week after it issued a €1bn 15 year bond in the euro market, Vodafone swooped for sterling on Monday issuing an £800m 33 year bond.
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Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.
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Spain’s Cellnex Telecom, a broadcasting towers business, hit the investment grade and high yield euro markets on Monday, just over six weeks after it roadshowed for the deal.
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Adani Transmission’s maiden $500m bond saw overwhelming demand of more than $5bn on Thursday as the issuer left plenty of money on the table for investors — which was reflected in secondary with the notes tightening 20bp.
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Export-Import Bank of India took the 144A route for the first time as it builds up its track record in the debt market. It was a masterstroke move for the issuer, as it got away with top notch pricing and saw US investors taking more than 60% of the notes.
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