Barclays
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Asian bond issuers have finally decided to venture back into the market with a trio of investment grade names opening books to dollar deals. Export-Import Bank of China (Chexim), Shanghai Pudong Development Bank and Korea Development Bank are vying for attention in the first test of investor demand in three weeks. -
British largest off-license chain Conviviality Retail has agreed to buy drinks wholesaler Matthew Clark Holdings with funds from £80m of term loans and a £130m share placing.
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The European Stability Mechanism has added another chapter to the euro market’s autumn renaissance with the largest benchmark from a supranational or agency in 18 months.
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Akelius Residential Property, the Swedish property group, was the only borrower roadshowing on Tuesday for a speculative grade bond in Europe, but bankers said investor feedback was positive.
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OSN, the Dubai-based subscription television company, has signed its second syndicated loan for $400m, which was twice oversubscribed.
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The Export-Import Bank of China (Chexim) has mandated banks for a US dollar bond, which will be issued under an MTN programme that comes backed by loans.
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Telecoms company Telefonica was one of two Spanish corporates to tap the euro market on Monday. Gathering a solid order book despite a minimal new issue premium, Telefonica appeared unaffected by any concerns regarding upcoming elections in Spain.
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A pair of SSAs hit screens with euro benchmark mandates on Monday — and bankers are confident that market conditions will stay bright to support even more expected supply.
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Barclays began marketing a multi-tranche Samurai trade on Monday, as some FIG bankers claimed European banks were still baulking at the new issue premiums being offered by US visitors to the euro market.
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Prabhat Dairy limped over the finish line with its IPO, with the Indian producer of milk and dairy products pricing the deal at the bottom of the range after being forced to extend bookbuilding and drastically slashing price guidance.
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Barclays has strengthened its Asia Pacific coverage of the oil and gas sector with the hire of Jorge Martinez from HSBC.
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