Barclays
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After a week of no new paper in CEEMEA, EM bankers are looking forward to a busier next week as four bonds are slated from the region and the market looks supportive enough to allow issuers to pull the trigger.
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FCE Bank, the finance subsidiary of Ford, issued a €750m bond on Wednesday, leaving some concession on the table to secure the deal’s secondary performance. -
Latin American development bank CAF’s transition from emerging market to SSA issuer is almost complete, said its head of funding, after nearly 40% of demand for its latest dollar deal came from central banks and official institutions.
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Rexel, the French distributor of electrical supplies, on Wednesday sold €650m of unsecured notes on a day when investment grade buyers moved into the high yield market.
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Barclays has this evening executed a R13bn ($900m) accelerated bookbuild in shares of Barclays Africa Group, its separately listed South African subsidiary, as the first stage in its already announced plan to divest the bank. The trade was covered in 35 minutes and multiple times oversubscribed.
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Moody’s said on Wednesday that Ardagh’s issuance of $4.5bn of bonds late on April 29 was credit positive for the B2/B rated Irish glass and metal packaging manufacturer.
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A managing director of loans execution will leave Barclays in London at the end of May.
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KommuneKredit and the State of North Rhine-Westphalia (Land NRW) joined NRW.Bank in lining euros deals on Tuesday in a week bankers had expected to be hobbled by holidays.
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Slovenia is offering a $750m buy-back across its dollar 2022s, 2023s and 2024s and is looking to fund it with proceeds from a new euro-denominated bond.
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UK budget hotel chain Travelodge Hotels on Friday priced the first sterling high yield corporate bond of the year, with pricing widened by the imminent EU referendum in the UK.
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A flotilla of IPOs reached harbour safely this week, through waters calmed by the European Central Bank’s quantitative easing medicine, and whatever other magical ingredient has made financial professionals feel so much better since Easter. But one debutant tripped up and another IPO was pulled.
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